CnEVPost Newsletter: Citi cuts price target on NIO; XPeng halts P5 reservations in Europe
Citi cuts price target on NIO as bank changes valuation approach to China's EV sector - CnEVPost — cnevpost.com Citi lowered its price target on NIO to $41.1 from $87 and raised its price targets on BYD, XPeng, and Li Auto, continuing to name NIO and BYD as top picks.
NIO's battery swap network covers highway connecting Shenyang and Haikou - CnEVPost To date, NIO's battery swap network has completed its previously promised coverage of five vertical and three horizontal highways and four metropolitan areas in China.
The setback regarding the P5 does not affect XPeng's long-term strategy in Europe, where it is moving to encourage local consumers to pre-order the P7 sedan.
EV stocks surge in Hong Kong, Li Auto rises 8% to all-time high - CnEVPost Li Auto launched its new SUV, the L9, on Tuesday, and Citi raised its price target on the company.
CITIC Securities expects China's NEV sales to reach record high in June - CnEVPost CITIC Securities expects BYD to sell 140,320 units, Tesla China 87,182 units, XPeng 19,281 units, Li Auto 19,447 units and NIO 10,772 units in June.
Neta's flagship sedan Neta S gets 5,216 pre-orders in 15 days, CEO expects up to 20,000 sales per month - CnEVPost The Neta S is Neta's first effort to enter the premium market with a limited-edition pre-order price of RMB 338,800 ($50,380).
The product includes two versions with one and two DRIVE Orin chips, with mass production set to begin in the fourth quarter.
Volkswagen Anhui sees first body-in-white roll off line - CnEVPost Volkswagen Anhui is moving full speed ahead with production, with pre-production vehicles set to roll off the line this year and mass production in the second half of 2023.