Meet the biggest winner behind Nio's surge, who made $6.7 billion in six months
Central China's Anhui province is always in the spotlight for its reform moves, from betting a fifth of its revenue on BOE to making 45 billion yuan ($6.7 billion) in half-year profits from its investment in Chinese EV maker Nio (NYSE: NIO) this year, it has made every major investment lucrative.
Li Auto says it has delivered more than 20,000 Li ONEs
Chinese electric vehicle maker Li Auto (NASDAQ: LI) said on Weibo on October 18 that it had delivered more than 20,000 Li ONEs to customers in total, just 10 months after the model began deliveries in December 2019, the fastest record for a new Chinese carmaker to achieve such deliveries.
Tesla removes 7-day no reason return clause in China
Tesla China announced on Friday that it was discontinuing and canceling its confidence guarantee scheme, meaning that consumers will no longer be able to return their vehicles without a reason within seven days of taking delivery.
Chinese investors, envious of Nio's surge, want to find any connection between their portfolio companies and Nio
The stock price of Nio (NYSE: NIO) has been rising strongly lately, and envious Chinese investors are looking to profit from it, so they are desperately looking for any connection between their portfolio companies and the US-listed Chinese EV maker.
With shares up more than 10 times in six months, how did Nio get its luck?
Shares of Chinese EV maker Nio (NYSE: NIO) surged 22.57% on Wednesday and then rose another 5.92% to a record high of $28 per share on Thursday.
Nio, Xpeng in-vehicle system offline due to operator network failure
The vehicles of Chinese EV makers Nio (NYSE: NIO) and Xpeng Motors (NYSE: XPEV) were affected by the network failure of telecommunication carriers, which caused inconvenience to their car systems.
Chinese ministry says supports development of charging and battery swap models
China supports the two development models of new energy vehicles, charging and battery swap, to create a favorable environment for the promotion and application of new energy vehicles, China's Ministry of Industry and Information Technology said in a reply letter to a proposal by a member of the Chinese People's Political Consultative Conference (CPPCC).
China-made entry-level Model Y expected to drop to RMB 275,000, analysts say
From Tesla's pricing strategy overseas, the price difference between Model Y and Model 3 is only 6-9%, so after the China-made Model Y goes into production, the Model Y's entry price is expected to drop to 275,000 yuan ($40,860), Tianfeng Securities said in a recent research paper.
Citi upgrades Nio's stock rating to 'Buy'
Citi analyst Jeff Chung upgraded the stock rating of Chinese EV maker Nio (NYSE: NIO) from "Neutral" to "Buy" with a price target of $33.20 from $18.10.
Volkswagen to debut electric compact SUV ID.4 in China on Nov 3
Volkswagen's new all-electric compact SUV, the Volkswagen ID.4, will be released in China on November 3, according to industry media Evzhidao.com.