“XPeng delivered 1Q24 earnings upside driven by earlier-than-expected recognition of high-margin VW tech and service revenue; 2Q24 volume outlook also came in better than feared,” Deutsche Bank said. Read more…

Xpeng’s gross margin rose to 12.9 percent in the first quarter, marking a new model for the company, which is generating revenue from technology on top of its EV business, its CEO said. Read more…

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Xpeng had 2,000 registrations last week, Li Auto 7,800 and Huawei-backed Aito 6,600. Read more…

Huawei’s automotive business has already turned profitable as sales explode, especially for the Aito brand, an executive said. Read more…

Li Auto’s BEV endeavors appear to be facing structural challenges as transferring its EREV success to BEV is not so straightforward, Deutsche Bank said. Read more…

Xpeng will spend RMB 3.5 billion ($480 million) in 2024 on R&D of AI technology around smart driving and recruit 4,000 new professionals. Read more…

“Li Auto delivered mostly in-line 1Q24 earnings results and 2Q24’s volume outlook bracketed our forecast but pricing pressure appears much worse than anticipated,” said Deutsche Bank. Read more…

Li Auto had record weekly order growth over the Labor Day holiday in early May, its CEO said. Read more…

Xiaomi CEO Lei Jun tried to peddle a concept for a unified in-vehicle eco-system in a meeting that included Nio’ William Li and Onvo president Ai Tiecheng. Read more…

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SAIC and Audi are combining their resources to jointly develop a series of EV models, with the first product expected to go on sale in 2025. Read more…

A total of 243 stations provide PSP services that enable Nio vehicles to autonomously drive from the main road to a target service area and autocomplete a battery swap when NOP+ is turned on. Read more…

Chinese customers who order a Tesla vehicle before June 20 will have the chance to get a 5,000-km free supercharging entitlement, but only 140 spots are available. Read more…

At the end of 2023, Nio was taking about 295 days to clear receipts payable, and Xpeng 221 days, compared with 197 days and 179 days, respectively, in 2021, according to Bloomberg. Read more…

Xpeng will offer its autonomous driving and EV technology to other automakers, allowing the company to generate a new stream of revenue, its vice president Brian Gu said in an interview with the South China Morning Post. Read more…

Thousands of completed Li Megas are currently parked in the parking lot of Li Auto’s Beijing plant, according to local media. Read more…

The Xpeng G6 debuts in Hong Kong at a starting price of HK$299,900 ($38,440), with the first deliveries of the right-hand drive version expected in the third quarter. Read more…

Gotion has launched the G-Current, which supports ultra-fast charging, the Stellary Battery, a large cylindrical battery, and announced the Gemstone, an all-solid-state battery. Read more…

China FAW will join the Nio-led battery swap alliance, becoming the seventh automaker to do so, according to local media. Read more…