BYD is offering 118 million shares at a discount of up to 8.4 percent to Monday’s closing price of HK$363.60, according to Bloomberg.
BYD plans to use the proceeds for R&D, expanding overseas operations, supplementing working capital and general corporate purposes.
Leapmotor and FAW will work together on joint development of passenger NEVs and parts collaboration, and will explore the feasibility of deepening capital cooperation.
FAW is one of the largest car companies in China, delivering over 3.2 million units in 2024.
The M5 Ultra has a pre-sales starting price of RMB 238,000 ($32,680) and will be released later this month.
It will feature upgraded 192-channel LiDAR, 4D millimeter-wave radar, and Huawei’s high-level smart driving system as standard.
In February, BYD sold 67,025 NEVs in overseas markets, marking the third consecutive month of record highs.
In January-February, BYD’s passenger NEV sales amounted to 614,679 units, up 90.44 percent year-on-year.
Pricing for the regular Model Y remains the same as the Launch Series, with the bonus extended warranty no longer available.
Tesla has extended the Model 3’s RMB 8,000 insurance subsidy and 5-year, 0 -interest financing package to March 31.
Wait times for both the ET7 and ES8 have been reduced to 2-3 weeks from 3-4 weeks previously, while the EC7 has been extended to 4-5 weeks from 3-4 weeks.
The wait time for the ET9 is 11-12 weeks, and the model will begin its first deliveries at the end of this month.
In January-February, Leapmotor delivered 50,457 units, up 167.78 percent from 18,843 in the same period last year.
Leapmotor will begin pre-sales of its new model, the B10 SUV, on March 10.
The Nio main brand delivered 9,143 vehicles in February, up 14.99 percent from 7,951 in January.
The Onvo sub-brand delivered 4,049 vehicles in February, down 31.51 percent from 5,912 in January.
Zeekr Group delivered 31,277 vehicles in February, up 50.96 percent year-on-year but down 25.56 percent from January.
The Zeekr brand saw a 17.56 percent sequential increase, while Lynk & Co saw a 42.69 percent sequential decline.
The Nio main brand has extended its 5-year 0-interest financing plan until the end of this month, and sub-brand Onvo launched the same plan earlier today.
This month’s purchase offers do not apply to the Nio ES7, or the ET9 whose deliveries have not yet begun.
This is the fifth consecutive month that the SU7 has seen monthly deliveries exceed 20,000, bringing cumulative deliveries to over 180,000 units.
Xiaomi will begin deliveries of the SU7 Ultra on March 2, and it has already garnered orders for more than 15,000 units.
Li Auto’s deliveries in February were up 29.69 percent year-on-year, but down 12.24 percent from January.
In January-February, Li Auto delivered 56,190 vehicles, up 9.29 percent year-on-year.
In January-February, Xpeng delivered 60,803 vehicles, up 375.21 percent from 12,795 in the same period last year.
Xpeng CEO said last month that the company was confident of seeing deliveries double in 2025 compared to last year.
Onvo launched higher-value 5-year 0-interest financing package, but removed BaaS benefit available in February, resulting in scaled-back overall benefits.
The 5-year 0 percent financing program is the same as Tesla’s approach.
Onvo will allow owners to upgrade their 60-kWh standard-range battery packs to 85-kWh long-range battery packs on a daily, monthly or annual basis starting March 1.
Upgrades cost RMB 45 ($6.18) per day, RMB 800 per month, or RMB 8,800 per year.
Li Auto’s goal is to have more than 15,000 superchargers by the time the Li i8 is launched.
More charging piles are in preparation for the launch of more BEVs after the Li Mega.
Xiaomi EV said it will ramp up production capacity to speed up deliveries of the SU7 Ultra.
On March 3, Xiaomi will give the SU7 Ultra its overseas debut at the MWC 2025 event in Spain.
Companies must not imply to consumers that driver assistance systems can be used as self-driving systems.
The systems are required to implement an exit strategy in the event of driver distraction.
The updated G6 is a model developed for the global markets and will be offered in left- and right-hand drive versions.
The new G6 will be officially launched in early March, when pricing will be announced.
Li Auto began offering final payment reductions and 3-year 0-interest financing on L-series models, allowing buyers to save up to RMB 38,000 ($5,210).
It will launch the smart driving edition of the L-series models in May, focusing on smart driving hardware upgrades.
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