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CnEVPost Newsletter: Li Auto Q3 earnings; Tesla price hike
Li Auto reported gross margin of 22.0 percent in the third quarter, higher than 12.7 percent in the same period last year and 21.8 percent in the second quarter.
Li Auto's third-quarter results were somewhat mixed, with a strong outlook for fourth-quarter sales, according to Deutsche Bank.
Alps is rumored to no longer be a standalone program, with the team's personnel assigned to various Nio divisions and some positions cut.
The ES6 remains the best-selling Nio model, but deliveries were down from September, while deliveries of the EC6 coupe SUV were up significantly.
The price of the Model 3 Long Range has been raised by RMB 1,500 in China, while the Model Y Long Range has gone up by RMB 2,500.
Prices are going up because of rising costs, and if costs go down, prices could go down, a Tesla staff said.
The Bao 5 SUV is available in three variants with a starting price of RMB 289,800 and can accelerate from 0 to 100 km/h in 4.8 seconds.
BYD is aiming to sell at least 3 million NEVs in 2023, with nearly 2.4 million sold this year through the end of October.
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