BYD is looking to accelerate the replacement of traditional fuel vehicles with NEVs at lower prices, and more automakers following suit is expected to speed up the process.
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Lotus Technology plans to merge with L Catterton Asia Acquisition Corp in order to list on the Nasdaq, issuing up to 181,315,064 ordinary shares.
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BYD makes its hybrid models less expensive than its petrol counterparts in a strong second offensive against them.
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BYD will launch new variants of the Qin Plus and Chaser 05 in Glory Editions on February 20, both starting at RMB 79,800, or $11,100, according to local media.
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Among the top 5, Tesla only produces BEVs, while the other automakers produce both BEVs and PHEVs.
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Employees will be paid as usual until February 18, and after March 15 only HiPhi employees in Shanghai will receive basic pay, according to local media.
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BYD is China's largest NEV maker, capturing 35 percent of the country's NEV market in 2023.
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By the end of 2023, there were 2.73 million public charging piles in China, according to an industry association.
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Li Auto said it was targeting 3,000 charging stations by 2025 when it unveiled its all-electric solution at last year's Shanghai auto show.
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A video shared by Nio shows the ET9 letting the thick snow covering its body fall through significant body shaking.
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