Electric Vehicle

China's Ministry of Industry and Information Technology (MIIT) released a new directory of recommended models for the promotion and application of new energy vehicles, showing that Tesla's China-made Model 3 standard range version with lithium iron phosphate battery is included.

The China-made Model 3 has been dropping in price frequently since its release because it has lower costs and higher margins, analysts from Essence Securities said.

China-made Tesla Model 3 sales in May were 11,095 units, up 205 percent from April, making it the No. 1 new-energy vehicle sold in China in the month, according to the China Passenger Car Association (CPCA).

In early 2020, U.S. electric vehicle manufacturer Tesla's electric vehicle project in Shanghai, China, went into production after construction was completed within a year. 

BYD said today that its new model, the Han, will be the world's first model to be equipped with Huawei 5G technology.

Nio delivered 3,436 vehicles in May, up 215.5 percent year-on-year to a record high. Nio expects to meet its second quarter delivery target.

When it comes to supercars, Koenigsegg has come out with some pretty crazy projects like the four-passenger Gemera, while Polestar, on the other hand, brings some interesting electric cars. The biggest thing these two automakers have in common - both call Sweden home, but also just that.

Geely's high-end electric car maker Polestar plans to expand its stores in the country while preparing to launch a model to compete with Tesla's domestic Model 3, according to Reuters.

Li Bin, founder of Nio, said the long-term growth potential of China's electric vehicle market remains despite increased competition from companies like Tesla, which bodes well for his company.

Xpeng, a Chinese electric vehicle startup backed by Alibaba has secretly filed IPO documents with the US stock market, planning to raise $500 million, 36Kr said, citing sources familiar with the matter.