Q1

Nio's third factory will officially start production in September, and some production lines will operate on a double shift basis as needed.

Nio experienced an operating cash outflow in the first quarter, with current liabilities exceeding current assets.

Li Auto saw a solid year-on-year growth in net income in the first quarter, despite a flat revenue, as sales expenses declined.

Xiaomi's innovative businesses, which include EV and AI, posted a gross margin of 23.2 percent in the first quarter, up from 20.4 percent in the fourth quarter last year.

Xpeng is confident that sales will more than double in 2025 and expects the company to be profitable in the fourth quarter of this year.

Nio Inc delivered 42,094 vehicles in the first quarter, within the guidance range of 41,000 to 43,000 vehicles.

Xpeng's first-quarter net loss came in at RMB 660 million, the lowest since the second quarter of 2020.

Leapmotor reported a net loss of RMB 130 million for the first quarter, a year-on-year decrease of 87.17 percent.

Zeekr Group reported revenue of RMB 22 billion ($3.03 billion) in the first quarter, up 1.1 percent year-on-year while down 37.8 percent from the fourth quarter.

Li Auto delivered 92,864 vehicles in the first quarter, near the upper end of its guidance range.