Earnings

Li Auto delivered 108,581 vehicles in the second quarter, within the guidance range of between 105,000 and 110,000 vehicles.

Zeekr delivered a record 54,811 vehicles in the second quarter, an increase of 100.05 percent year-on-year and up 65.80 percent from the first quarter.

Xpeng delivered 30,207 vehicles in the second quarter, within its guidance range of between 29,000 and 32,000 vehicles.

CATL saw second-quarter profit rebound from the first quarter, while gross margin remained flat.

Zeekr posted a narrower first-quarter loss in its first earnings report since its IPO in the US, driving shares up in pre-market trading.

Nio reports generally solid first-quarter result and provided a better-than-expected second-quarter volume outlook, said Deutsche Bank.

Deliveries of the first model of Nio's third brand, codenamed Firefly, will begin in the first half of 2025, Nio management said.

Nio guided for second-quarter deliveries of between 54,000 and 56,000 units, meaning June deliveries are expected to be between 17,836 and 19,836 units.

Nio delivered 30,053 vehicles in the first quarter, hitting its lowered guidance of about 30,000.

"XPeng delivered 1Q24 earnings upside driven by earlier-than-expected recognition of high-margin VW tech and service revenue; 2Q24 volume outlook also came in better than feared," Deutsche Bank said.