Xpeng is asking dealers to purchase vehicles for half of their target sales each month, rather than requiring them to purchase the entirety of their target sales as traditional brands do, according to local media.
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The number of shares BYD plans to buy back is about 0.05 percent of its total issued share capital and will be used for cancellation to reduce registered capital.
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Xiaomi EV is expected to officially launch its first EV model, the SU7, at the end of this month, with deliveries set to begin soon after that, according to local media.
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BYD has launched an updated version of the Seagull, lowering the starting price to RMB 69,800, or about $9,700.
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This is the largest-capacity battery pack mass-produced in the Chinese passenger car market, and Nio models equipped with the pack have a range of up to 1,055 km, Nio said.
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Nio's mass-market-oriented brand, codenamed Alps, will debut in the second quarter. The first model will be launched in the third quarter and mass delivery will begin in the fourth quarter.
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Nio reported a net loss of RMB 5.37 billion in the fourth quarter, down 7.2 percent from the fourth quarter of 2022 and up 17.8 percent from the third quarter of 2023.
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BYD was at 38,500 units last week, up 21.84 percent from the previous week's 31,600.
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China will tweak its policy to give the three centrally-administered automakers a separate assessment of their NEV businesses, a senior official said.
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The camouflage-wrapped car has a few words on its rear window that mean it's better than Tesla's Model Y.
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