CnEVPost Newsletter: NIO reports Q1 earnings, reveals plans for battery development and sub-brand

NIO’s new orders in May reached a record high and the company is confident of achieving a rapid climb in deliveries in the second half of the year.

AMD says it looks forward to broad cooperation with NIO in the future.

The analyst expects NIO to deliver 140,000, 200,000 and 270,000 units from 2022-2024, respectively.

Tesla’s Shanghai plant produced 33,544 vehicles in May, 22,340 of which were exported.

Since production resumed in late April, Tesla Giga Shanghai has produced a cumulative total of more than 40,000 vehicles.

BYD previously announced a buyback price cap of RMB 300, but its shares have risen 40 percent in the past month to about RMB 330.

“We feel that the electrification process is accelerating much faster than we thought,” said BYD Chairman Wang Chuanfu.

There have been rumors recently that CATL may recognize a loss on its futures investment in its first-half earnings report, leading to very poor second-quarter results.

Jidu’s first production model is positioned as a mid-size SUV that will be a generation ahead of Tesla in terms of intelligence, according to its CEO.

China’s NEV industry has been hit by the current epidemic, but the year-on-year improvement has exceeded expectations, the CPCA said.