Market Chatter: BYD, Nio Deny Acquisition, JV Deals; Nio's Hong Kong Shares Fall 6%

MT Newswires02:29 ET

China EV Insurance Registrations for Week Ending Nov 24: Nio 4,000, Tesla 16,700, Xiaomi 4,600, BYD 95,900

CnEVPost23:28 ET

Under the dual pressures of 'price wars' and electrification transformation, this year will see 4,000 4S stores close down. Traditional dealers are 'abandoning' rbob gasoline vehicles and embracing new energy.

① The deputy secretary-general of the China Automobile Dealers Association, Lang Xuehong, recently predicted that the number of 4S stores expected to withdraw from the market this year will reach 4,000. ② In the past year, more than 40 traditional luxury brand dealers have chosen to switch to Nio. ③ Zhongsheng Hldg announced that it has signed a preliminary agreement with Chongqing Sokon Industry Group Stock, and both parties agree to further negotiate on the cooperative distribution of new energy fund.

cls.cn21:26 ET

BYD Launches Sealion 07 EV in Norway

CnEVPost20:42 ET

Citic Securities: The circle of swapping batteries is gradually expanding, and the industry may usher in new development opportunities.

Citic sec released a research report stating that compared to charging, battery swapping is a more efficient refueling method, while also having multiple advantages such as high safety and user-friendliness.

Zhitong Finance19:17 ET

Niu Sen openly challenges Trump: If you cancel electric vehicle subsidies, California will pay for it themselves.

① Newsom stated that if the Trump administration cancels the federal tax credit, California will restart its own subsidy program; ② According to the latest data, the total number of zero-emission autos sold in California has exceeded 2 million; ③ During Trump's first term, a dispute occurred with Newsom regarding automobile emission standards.

cls.cn12:34 ET