Changan

In the first quarter, Changan and Geely ranked third and fourth, respectively, in China in terms of retail vehicle sales.

Shenlan's goals for 2023 include selling 200,000 vehicles and making both the SL03 and S7 hot sellers, the brand's CEO said.

Shenlan is currently selling only one model, the SL03, a Tesla Model 3 competitor, with 4,103 units delivered in February.

China should launch a crackdown on the profiteering of some players and stop some companies from hoarding and speculating on raw materials, according to the chairman of Changan.

Chinese authorities and the auto industry should study the timing of the phase-out of conventional fuel vehicles to guide automakers and society in an orderly transition to new energy sources, he said.

Changan Shenlan and key suppliers have suspended production of the SL03 vehicle and parts since August 15 in order to ensure electricity supply for residents.

The Changan Shenlan SL03 is expected to be a hot seller in China's mainstream NEV market, with steady-state monthly sales expected to top 15,000 units, analysts say.

Changan EV becomes the latest after Ora to stop taking orders for its low-priced hot-selling model as raw material prices continue to rise.

The E11 model is positioned as a mid-size SUV, and its design prototype rolled off the production line earlier this year.

The move represents a further exit for Nio from its joint venture with Changan after it cut its stake in the company to 4.62 percent late last year.