CnEVPost Newsletter: NIO said to have launched development of sub-brand model; XPeng hints at increased efforts in Europe
NIO said to have launched development of sub-brand model with planned annual capacity of 60,000 units - CnEVPost — cnevpost.com NIO has launched the development of a mass-market sub-brand model in Hefei, which will be positioned below NIO's existing SUV and sedan models, according to local media.
CITIC Securities says NIO, XPeng, Li Auto severely undervalued, calls for new valuation metrics - CnEVPost CITIC Securities believes that NIO, XPeng, and Li Auto are in an accelerated period of improving profitability and are expected to approach the break-even point in the coming year.
XPeng hints at increased efforts to expand in Europe - CnEVPost Information shared by XPeng on Twitter suggests that it may be about to announce plans for expansion in Europe.
Li Auto buys huge plot of land in Chongqing to prepare for aggressive capacity expansion - CnEVPost The site is 1.13 million square meters, larger than Tesla's Giga Shanghai, and will set the stage for Li Auto to achieve sales of 1.6 million vehicles by 2025.
Spy photos show Lotus doing road testing of Type 132 SUV - CnEVPost Late last month, Lotus began hiring for dozens of positions in China, saying "Type 132 is coming to life," signaling that its first all-electric model may not be too far away from being announced.
Geely sells 17,928 NEVs in Jan, up 318% from a year ago - CnEVPost Geely sold 15,442 battery electric vehicles in January, including models that support battery swap.
SAIC sells 72,236 NEVs in Jan, up 25.5% year-on-year - CnEVPost This is a 23.53 percent drop from 94,460 units in December last year.
WM Motor sued for allegedly reducing available battery capacity without user consent - CnEVPost Some owners believe that the matter is related to WM Motor's previous multiple battery safety incidents.
Mercedes-Benz named by Chinese banking regulator for its auto finance unit's infringement of consumer rights - CnEVPost In 2019, Mercedes-Benz Auto Finance was fined RMB 800,000 after a user complaint brought it into the spotlight.