CnEVPost Newsletter: NIO shares soar; China's NEV subsidy rollback nears

US-listed Chinese stocks stage rare comeback with NIO up nearly 15%, here's why - CnEVPost — cnevpost.com Analysts say previous declines in Chinese stocks may be partly due to some institutions selling their worst-performing stocks at the end of the year, meaning the selling pressure may ease in the new year.

NIO adds 21 swap stations on last day of 2021, bringing total to 777 - CnEVPost As of December 31, NIO had 777 battery swap stations and 605 supercharging stations offering 3,404 charging piles.

Tesla recalls 199,741 vehicles in China - CnEVPost Tesla is recalling 199,741 electric vehicles in China because of safety hazards in the front trunk as well as the rear trunk.

Tesla sharply hikes prices of entry-level Model 3 and Model Y in China - CnEVPost The price of the entry-level Model 3 has been raised by RMB 10,000 and the price of the entry-level Model Y has been raised by RMB 21,088.

Tesla opens its first store in China's Xinjiang - CnEVPost The store is Tesla's 11th in northwest China and 211th in the Chinese mainland.

Tesla denies Chinese owners face big insurance cost hikes, says average increase about 10% - CnEVPost Tesla said insurance costs for its vehicles in China have risen by an average of about 10 percent, with the Performance version at 20 percent or less.

BYD, others set up mining firm as battery material prices continue to rise - CnEVPost In December alone, the price of battery-grade lithium carbonate rose by 40 percent.

Sokon denies it plays only OEM role in partnership with Huawei - CnEVPost Seres is a longtime partner of Huawei and not an OEM, local media quoted a source at Sokon, which owns the brand, as saying.

Prominent economist says NEVs have most potential to replace real estate in economic contribution in China - CnEVPost Although the NEV industry currently contributes less than a tenth of what real estate does to the economy, it is growing at a very fast pace, according to Ren Zeping.

China's subsidies for NEVs will be reduced by 30% starting tomorrow and will no longer be available starting 2023 - CnEVPost China's purchase subsidies for NEVs will be reduced by 30 percent in 2022, and no more subsidies will be provided in 2023.

CPCA head expects China's NEV sales to top 6 million in 2022 as consumers seize final subsidies - CnEVPost He expects China's NEV sales to increase significantly by the end of 2022 before subsidies are removed in 2023.

Chinese consumers take last chance to buy NEVs, even show cars, before subsidies fall - CnEVPost Three of the four show cars at XPeng's flagship store in Beijing were sold at the beginning of the month and have not yet been restocked.