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CnEVPost Newsletter: NIO plant increases capacity; Auto chip supply expected to improve
NIO Hefei plant finishes phased renovation, increasing annual capacity by 20% to 120,000 units on single shift - CnEVPost — cnevpost.com The plant's annual capacity can be increased to a maximum of 300,000 units after all upgrades are completed in the first half of 2022.
XPeng rises over 6% in Hong Kong, forming V-shaped rally in past seven sessions - CnEVPost XPeng has accumulated gains of more than 14 percent in the past seven trading days, while Li Auto is up about 13 percent and BYD is up 10 percent in the same period.
XPeng releases inaugural ESG report, gets top spot in MSCI rating - CnEVPost XPeng has received an AA rating from MSCI ESG Research for the second consecutive year in 2021, the highest MSCI ESG rating of any global automotive company.
Nomura initiates coverage of Li Auto with Buy rating and $43.4 price target - CnEVPost Nomura believes that Li Auto's solution not only reduces mileage anxiety, but also allows the company to unlock markets in regions where charging infrastructure is scarce.
WM Motor leaning toward overseas IPO, CFO says - CnEVPost Investments from funds owned by the Li Ka-shing and Stanley Ho families show that they are bullish on WM Motor, the company's CFO said.
Analysts say worst moment of auto chip shortage in China has passed - CnEVPost The performance of China's auto wholesale sales improved significantly in late September in terms of average daily sales.
Bosch China exec says chip supply improved slightly this month, but shortages will be the norm - CnEVPost Since July, Bosch has been able to meet less than 20 percent of its orders. The situation was a little better in September and October, but now it seems that less than half of the demand can be met.
Faraday Future says Hanford plant production equipment installation completed, further pushing back against short-selling attack - CnEVPost Faraday Future was up more than 4 percent in pre-market trading after releasing the update.
Official says China will keep NEV support policies continuous and stable - CnEVPost The MIIT official said that China will coordinate the study of policy measures for NEVs and maintain the continuity and stability of support policies for all segments.
SAIC-GM announces Ultium Center operational, first model to be launched next year - CnEVPost GM's first all-electric Cadillac LYRIQ model will be available in the first half of 2022, and the plant is currently producing battery packs.
The test area covers 20 square kilometers, with more than 100 kilometers of city roads.
US EV maker ELMS signs deal to get battery supplies from China's CATL - CnEVPost CATL will supply ELMS with 42-kWh of lithium iron phosphate batteries using cell-to-pack (CTP) technology similar to that used in NIO's battery packs.