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CnEVPost Newsletter: NIO responds to short-selling report
NIO said the report is without merit and contains numerous errors, unsupported speculations and misleading conclusions and interpretations.
NIO says short-selling report contains extensive inaccuracies, EV maker has initiated related procedures - CnEVPost NIO has taken note of the report, which is full of inaccuracies and misinterpretations of the company's disclosures, it told CnEVPost.
NIO faces short-selling, accused of inflating revenue with accounting games - CnEVPost A firm called Grizzly Research claims that NIO is likely using an unconsolidated related party, Wuhan Weineng, to inflate revenue and profitability.
Guest Post: Grizzly Research attack highlights shorts panic and NIO potential for industry high profit margins - CnEVPost "My only disappointment is the poor quality of the false bear narrative. Surely shorts could have done a better job in frightening weak NIO holders."
EV stocks fall in Hong Kong as overall market declines - CnEVPost At press time, NIO was down 5.62 percent in Hong Kong, XPeng was down 5.77 percent and Li Auto was down 3.98 percent.
XPeng G9 to open for pre-order in August and officially launch in September, CEO says - CnEVPost XPeng G9 will be the best SUV within RMB 500,000 ($74,550), said the company's chairman and CEO, He Xiaopeng.
Chinese battery maker Sunwoda plans to issue GDRs and list them in Europe - CnEVPost Sunwoda plans to issue GDRs and have them listed on the SIX Swiss Exchange/London Stock Exchange. In March, Gotion High-tech announced a similar plan.
Audi breaks ground on first facility dedicated to pure electric vehicle production in China - CnEVPost The project, with a design capacity of 150,000 vehicles per year, is scheduled to start production by the end of 2024.
China's June retail sales of NEVs likely to hit record high, CPCA says - CnEVPost Sales of major Chinese automakers' NEVs grew at a rapid pace in June, with retail sales expected to approach 500,000 units, the CPCA said.