Industry

Citi raised price target on XPeng (XPEV.US) from $34.70 to $57.71, and maintains "Buy" rating. The bank also raised Li Auto (LI.US) rating from "Neutral" to "Buy" with a price target raised to $45.60 from $27.10.

Huawei said today that it has decided to sell all of the assets of the Honor business to ensure the continuity of the Honor channel and suppliers at a difficult time when technology elements of the industry are unsustainably available and the consumer business is under tremendous pressure.

As one of the oldest Internet companies in China, search giant Baidu is expanding its streaming video ecosystem in battle against emerging star ByteDance. 

Chinese search giant Baidu reported third-quarter revenue of 28.2 billion yuan ($4.16 billion), up 8 percent from the previous quarter and 1 percent from the same period in 2019, topping analysts' expectations of 27.58 billion yuan.

JD.com shares were down 2% in pre-market trading.

Didi plans to launch the D3 with autopilot in 2025. Didi wants to remove the cockpit by 2030 to enable fully automated driving.

The Tesla Shanghai plant set an immediate target of producing 5,700 Model 3s per week in November, which could be enough to help Tesla meet its annual production and delivery expectations of 500,000 electric vehicles, according to 163.com.

There is also the largest public pension in the US and the famous Renaissance Technologies.

Huawei's consumer business group is being integrated with the smart car solutions business unit, with the overall head being Richard Yu, CEO of Huawei's consumer business, 36kr said, citing sources close to Huawei's senior management.

Chinese electric vehicle (EV) maker NIO (NYSE: NIO) will report its third-quarter earnings Tuesday before the US stock market opens.