Electric Car

Range anxiety is the most important factor preventing many people from buying an all-electric vehicle, but that anxiety could be largely alleviated if Chinese electric vehicle maker NIO (NYSE: NIO) were to launch this battery pack.

NIO and XPeng, two of the leading companies in the new Chinese car manufacturing industry, have a skill set previously reserved for Tesla.

The New Energy Vehicle Industry Development Plan (2021-2035) may be announced next week, and that electrification and intelligence have become irreversible strategic directions for the development of China's auto industry.

Chinese carmaker BYD reported third-quarter net profit of RMB 1.751 billion, up 1,362.66% year-on-year, the company reported on October 29.

From the earliest days of the company's business establishment, to the difficult financing of the start-up, and then to the cost advantage, BYD's business has grown by leaps and bounds. The first seven years of BYD's existence were a period of rapid and unstoppable growth.

The Zhaoqing factory of Chinese electric car company XPeng Motors (NYSE: XPEV) has recently changed its registered capital from RMB 500 million to RMB 1.5 billion, a 200% increase, Qichacha data showed.

In a report on October 29, BofA analyst Ming Hsun Lee and Jessie Lo said rising blade battery adoption and better mix of electronic business will drive growth of Chinese carmaker BYD.

China's New Energy Vehicle Industry Development Plan (2021-2035) is likely to be released next week, Wu Wei, director of the Machinery and Equipment Division of the National Development and Reform Commission's Industrial Development Department, said today.

On October 29, Chinese EV maker NIO (NYSE: NIO) saw its 5,000th vehicle of the month rolled off the production line at the Hefei Advanced Manufacturing Base, the company said today.

Following JP Morgan's bullish report two weeks ago, another Wall Street firm Morgan Stanley also joined the ranks of updating their views on Chinese EV maker NIO (NYSE: NIO).