CnEVPost Newsletter: NIO's second plant; BYD's advice to Xiaomi

NIO's second plant has begun construction, production to begin in Q3 2022, CEO says - CnEVPost — cnevpost.com "It's very fast, and I looked at it yesterday and the plant has already started building the structural part," Li said.

NIO is still a 'first-year student' compared to German luxury brands, CEO says - CnEVPost "NIO is still a first-year student, but people are already paying us in advance of when we graduate with our PhDs. Over the next decade or so, we're going to finish school," he said.

NIO App wins award for its user experience - CnEVPost The NIO App, which offers rich functionality in a simple interface, has won a new award for the Chinese electric vehicle company.

BYD's advice to Xiaomi on building cars: Don't waste money, more importantly, time - CnEVPost "The point is that the three years you are prepared to invest cannot be bought with money. Losing RMB 5 billion may not be a big deal if the strategy is going in the wrong direction, but losing three years of time is significant."

XPeng CEO says smart electric cars should be priced at least $23,500 to make a profit - CnEVPost "Even in 2025, the minimum price for a company that wants to make a gross profit on a smart electric car is RMB 150,000 yuan."

Baidu sets up new company for its car-making business, with registered capital of about $313 million - CnEVPost On June 7, Jidu Technology Co was established with a registered capital of 2 billion yuan ($313 million), according to information from data provider Tianyancha.

Xiaomi chairman visits Great Wall Motors, renewing speculation of partnership - CnEVPost Lei Jun, chairman of Chinese smartphone giant Xiaomi, visited the research and development center of carmaker Great Wall Motors.

Chinese EV startup Aiways announces entry into Italy - CnEVPost After France, Germany, the Netherlands, Belgium and Denmark, Aiways is expanding its business to Southern Europe and the European Free Trade Association (EFTA) market.

Alibaba says it's working on self-driving trucks - CnEVPost Chinese e-commerce giant Alibaba is working on self-driving trucks with its logistics subsidiary Cainiao, Cheng Li, the company's chief technology officer, said Thursday.