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CnEVPost Newsletter: Tesla's price cut; NIO's ET5 recall
Tesla has cut the prices of its entire Model 3 and Model Y lineup by as much as 48,000 yuan in China to boost demand in the world's largest EV market.
A Tesla executive says the price cut is due to the company's good cost control and a government call, but apparently, the more important reason is weak demand.
The Model S starts at RMB 789,900 ($115,000) in China and the Model X at RMB 879,900.
By the close of trading, XPeng was down 6.82 percent in Hong Kong, Li Auto was down 6.55 percent and NIO was down 4.03 percent.
Some of the ET5 vehicles included in the recall are at risk of having their high-voltage wiring harnesses break and short-circuit in a severe head-on collision.
The NIO ES8, equipped with Mobileye's self-driving hardware and software, is planned for use in a robotaxi service and to integrate on-demand shuttles into local public transportation in Germany.
The first phase of the project, with an investment of RMB 5 billion, is expected to start production in December.
NIO reported the first ever monthly delivery update on October 15th 2018. It then evolved the infographic to the next level.
Zeekr plans to start selling vehicles in Europe later this year and is not planning to enter the US consumer market.
Xiaomi's first model will compete with Tesla's Model 3 sedan, but is stronger in size, and performance and similarly positioned to the XPeng P7, according to local media.
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