EV Industry

Due to the price hikes, NEV orders before the price hikes performed well, with ample orders overall, the CPCA said.

Nio said on Saturday that it has suspended production as Covid has caused partners in its supply chain to shut down production.

Demand remains firm as consumers expect EVs to continue to rise in prices, with waiting times generally at 2-3 months, according to a team of local analysts.

Nio has extended its gains to 13.5 percent, a new high since it went public in Hong Kong. Xpeng and Li Auto are both up over 10 percent.

"Fitch believes the prospects for China's EV market are bright, given still-strong demand," the credit rating firm said.

Edison Yu's team does not expect raw material price increases to have a materially negative impact on EV demand, considering that many ICE vehicle prices are also rising.

The event's organizing committee did not provide a new date, saying only that the exact date will be announced in the future.

"This reflects the consistent openness of Chinese regulators to cross-border audit and regulatory cooperation and is in line with relevant international practices," the CSRC said.

At the end of 2020, Beijing had 400,000 NEVs.

China's vice minister of commerce calls on multinational car companies to seize the opportunity to further expand their investment in China and improve the layout of the supply chain.