CnEVPost Newsletter: NIO gets another Buy rating; Tesla enters 'trillion-dollar club'

China Securities initiates coverage of NIO with Buy rating and $54 price target - CnEVPost — cnevpost.com China Securities analysts expect NIO to achieve single-quarter profitability in the coming quarters.

NIO replaces BYD as most valuable Chinese auto brand on Hurun's list - CnEVPost NIO's brand value rose 145 percent from last year to RMB 71 billion, overtaking BYD's RMB 67.5 billion.

NIO adds 3 swap stations, bringing total to 563 - CnEVPost As of October 26, NIO had 563 battery swap stations and 403 supercharging stations offering 2,450 charging piles.

XPeng reportedly may deliver models missing some radars due to chip shortage - CnEVPost A severe shortage of radar chips is affecting XPeng's new vehicle deliveries, and it's likely to deliver models missing some millimeter-wave radars.

XPeng has more owners in Shanghai than in Guangzhou, where it is headquartered - CnEVPost Shanghai is home to NIO's global headquarters and a Tesla factory.

Tesla enters 'trillion-dollar club' for first time - CnEVPost Tesla became the first US automaker to exceed $1 trillion in market cap, surpassing the combined of Toyota, Volkswagen, Daimler, General Motors, BMW, Ford and Honda.

BYD reportedly to raise battery prices by at least 20% starting next month - CnEVPost BYD's reasoning is that the raw materials for lithium batteries have been rising due to market changes, power restrictions and production limitations.

BYD gets HKEx's nod to spin off its semiconductor unit to A-share listing - CnEVPost BYD Semiconductor was established in October 2004, and BYD directly holds 72.3 percent of the shares.

Xiaomi EV's incentive plan approved, paving way for more talent acquisition - CnEVPost Xiaomi's first EV is expected to be mass-produced in the first half of 2024, with 453 people already on board the business' R&D team.

China's largest bank, ICBC, to provide RMB 3 trillion in energy financing over next 5 years - CnEVPost Most people may not have noticed that China's energy sector is receiving a huge financial boost.

China releases carbon peak action plan by 2030, re-emphasizes promotion of NEVs - CnEVPost China will promote NEVs and gradually reduce the share of traditional fuel vehicles in new vehicle production and sales and vehicle ownership.

China's Ministry of Commerce says policies will be introduced to promote used car exports - CnEVPost China's Ministry of Commerce has released a guide to help local used car export companies develop overseas markets.

Chery's Mini EV rival opens for pre-sale in China, prices start at about $4,700 - CnEVPost The QQ Ice Cream is priced directly at the market where the Wuling Hongguang Mini EV is located.