CICC initiates coverage on Li Auto with 'outperform' rating and price target of $21.50
China's top investment bank CICC Wednesday initiated coverage of Chinese EV maker Li Auto with an outperform rating and a target price of $21.50, meaning a 20 percent upside space from Wednesday's close.
Nio completes offering of new shares, why is it increasing ownership in Nio China?
Chinese EV maker Nio announced Wednesday the completion of the offering of 101,775,000 American depositary shares, each representing one Class A ordinary share, which included the exercise in full by the underwriters of their option to purchase up to an additional 13,275,000 ADSs, at a price of US$17.00 per ADS.
Nio and Xpeng both offer battery rental services, what's the difference between the two?
On August 20, 2020, Chinese EV maker Nio launched its BaaS (Battery as a Service) battery rental service, which had been in the works for years. Less than half a month later, Xpeng Motors also launched a similiar program.
Nio's fourth new car could be mass-produced in Q4 next year
Nio's fourth new car, the Nio EE7 instead of the previously rumored Nio ET7, could be mass-produced in the fourth quarter of next year at the JAC Nio plant in central China's Anhui Province.
Li Auto delivers a record 2,711 units of Li ONE in August
Li Auto delivered 2,711 Li ONEs in August, a new monthly record. For the period January-August 2020, Li ONE deliveries totaled 14,656 units.
Initial project for China-made Model Y to be completed in March next year, Tesla report shows
Tesla's Shanghai Gigafactory has released the environmental assessment report for the initial project of its new model, which means that the pre-production preparations for the China-made Model Y will begin soon.
Xpeng launches battery rental program similar to Nio BaaS
Alibaba-backed Xpeng Motors, which recently went public in the US, announced the launch of a new battery leasing service.
Nio to get 5G-V2X supply starting next December, ET7 sedan will be first to adopt it
Ningbo Joyson Electronic's subsidiary, Junlian Zhixing, has become a supplier for Nio's 5G-V2X (Vehicle to Everything) platform with the project worth about 660 million yuan ($96 million), which includes 5G-TBOX and 5G-VBOX for V2X.
In China, 9% of new energy vehicles sold by their owners in less than a year
Compared to fuel vehicles, the replacement cycle of new energy vehicles is significantly shorter, a new report shows.
Nio's first battery swap station in southeast coastal city Xiamen put into use
Nio's first battery swap station in Xiamen, China's southeast coastal city, was put into operation on August 29, which is the Chinese EV maker’s 145th battery swap station in China.
