Electric Vehicle

"We think only disappointing or weak sales would trigger a pullback in NIO shares, which is not our baseline scenario at this point," JP Morgan said.

The model is designed for young people who want to be trendy and innovative and has a bold color scheme.

"Starting next year, in the Chinese autopilot field, you have to be prepared to be beaten by us to find out where the East is," XPeng CEO He Xiaopeng said.

The car accelerates from 0-100 km in 4.9 seconds, has an NEDC range of 400 km, and is priced at RMB 357,000 yuan after subsidies.

Dawn has come for NIO, Li Auto, and XPeng, analysts say.

Chinese EV maker XPeng today announced the new XPeng P7 Scissor Door Edition, available in 4WD High Performance and Rear-Wheel Drive versions with a subsidized retail price of RMB 366,900 to RMB 409,900.

The central Chinese city of Hefei, where NIO China is headquartered, today announced a plan to accelerate the development of the local new energy vehicle industry, providing the EV maker with a more favorable policy environment.

GAC New Energy will formally announce the Aion brand at the Guangzhou Auto Show and announce the independence of GAC Aion, the company's source said.

NIO is a leader among Chinese auto OEMs in terms of autonomous driving, which should help it gain share, BofA said.

US electric car startup Rivian said Wednesday it will launch a small electric car for the Chinese and European markets, and could eventually produce cars in the two markets.