CnEVPost Newsletter: Deutsche Bank raises delivery forecast for NIO over next two years

Deutsche Bank raises delivery forecast for NIO over next two years, reiterates Buy rating and $60 price target - CnEVPost — cnevpost.com The team maintained its $60 price target based on 8x 2023E EV/sales, down from 9x previously to account for a broader re-rating of the EV-related stock.

Everbright Securities lowers NIO price target by 4% to $48.53, maintains Buy rating - CnEVPost A team at Everbright Securities lowered its earnings forecast and price target for NIO after the company announced its second-quarter earnings report.

NIO-backed LiDAR maker Innovusion secures new funding to accelerate delivery for ET7 - CnEVPost The capital will be used primarily to support the mass production and delivery of LiDARs for the NIO ET7, as well as Innovusion's innovation programs.

XPeng discloses patent for battery life prediction - CnEVPost XPeng has disclosed a patent related to battery life prediction that, if used, will be able to significantly improve the accuracy of the prediction.

XPeng establishes new car sales company in Guangzhou - CnEVPost XPeng established a new auto sales company in Guangzhou, where it is headquartered, on August 10 with a registered capital of RMB 250 million.

Li Auto to be included in Hang Seng Indexes effective Aug 26 - CnEVPost Li Auto will be included in several indices after the market close on August 25, 2021, with effect from Thursday, August 26, 2021, Hang Seng Indexes Company Limited said on Friday.

How will local Chinese brands counter Tesla's potential $25,000 EV? - CnEVPost Six months ago Tesla was rumored to be launching a Model 2 in China with a price tag as low as RMB 160,000 ($25,000), though this was denied by the company. Recently such rumors have resurfaced, raising high concerns in China's new energy vehicle industry.

BYD to build $770 million parts plant in Shenzhen - CnEVPost The plant will be mainly used for the research and development, production, and manufacturing of core products such as auto parts and related supporting industries.

BYD begins delivery of Tang EV in Norway - CnEVPost BYD said it will ship a cumulative total of 1,500 Tang EVs to Norway during 2021.

EV batteries to usher in TWh era as CATL to raise $9 billion to expand capacity - CnEVPost Shares of CATL rose more than 5 percent in Shenzhen trading after falling more than 4 percent at open.

Chongqing Sokon delivered 3,189 NEVs in July, up 113% from a year ago - CnEVPost Chongqing Sokon delivered 3,189 new energy vehicles in July, up 113.45 percent from the same month last year, according to data released by the company Thursday.

BAIC BluePark sold 3,491 units in July, up 74% year-over-year - CnEVPost Its cumulative sales from January to July were 10,450 units, down 37.46 percent from 16,709 units in the same period last year.

Huawei discloses patent for OTA upgrade that could improve driving safety - CnEVPost The patent can realize the control of the vehicle to be upgraded at the right location to ensure safety.

China's crowded EV making sector has a new player - CnEVPost With the launch of two electric vehicles, SiTech, also known as Xinte Auto, the electric vehicle brand that once partnered with FAW, is making a comeback.

BMW Brilliance sees its 100,000th power battery roll off line - CnEVPost The high-voltage power battery will be used in the pure electric BMW iX3.

China's used car transactions up 46% year-over-year in first seven months - CnEVPost In July, China traded 1.459 million used vehicles, up 15.7 percent year-over-year.