Xpeng Q3 revenue beats estimates, gross margin hits record high
Xpeng reported revenue of RMB 10.1 billion in the third quarter, with a record gross margin of 15.3 percent, beating analysts' expectations.
BYD reportedly developing its own smart driving chip
BYD is developing a smart driving chip with a computing power of 80 TOPS that will be used in the company's models priced between RMB 80,000 ($11,060) and RMB 300,000, according to local media.
China EV insurance registrations for week ending Nov 17: Nio 3,800, Tesla 17,100, Xiaomi 5,700, BYD 94,700
Li Auto had 12,300 insurance registrations last week, Xpeng 6,300, Zeekr 6,000, Leapmotor 8,500 and Aito 7,200.
Wuling to build logistics cars based on CATL's battery swap solution
SAIC-GM-Wuling has entered into a partnership with CATL to use the latter's Choco-SEB battery swap solution in the logistics vehicle segment.
Tesla Model 3 wait time in China further shortened to 1-3 weeks
Tesla Model 3 wait time in China has been shortened from 2-4 weeks previously to 1-3 weeks, while the Model Y remains unchanged at 1-3 weeks.
Nio still hopes to expand global presence to up to 25 countries and regions by 2025
Nio hopes to enter more than 90 percent of overseas markets in the next five to ten years.
BYD's Dynasty lineup set to sell 2 million units this year, exec says
In the January-October period, sales of the Dynasty lineup exceeded 1.58 million units, contributing about half of the BYD brand's sales in the same period.
Xiaomi reports $1.3 billion in revenue from EV business in Q3 with 39,790 deliveries
In the third quarter, Xiaomi's innovation business, which includes EVs, had a gross margin of 17.1 percent and an average vehicle sales price of RMB 238,650.
Nio Onvo aims to have up to 1,000 stores by end of 2025, report says
Onvo aims to have at least 500 stores by March next year and 800-1,000 by the end of 2025, according to local media.
Xiaomi says SU7 deliveries have exceeded 100,000, reveals new target of 130,000 for 2024
The new target means that Xiaomi is set to deliver 30,000 units in the next less than one and half months.