Smart and Sustainable Electric Mobility
The financing will be used for next-generation model development, smart driving technology development and entry into overseas markets.
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Li Auto reiterated the company's confidence that the Li Mega will be the top seller in the car market with a price tag of more than RMB 500,000 yuan.
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BYD saw a drop in NEV sales in February as the New Year holiday brought disruptions.
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Nio delivered 8,132 vehicles in February, down 33.11 percent year-over-year and 19.12 percent from January.
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"With the capacity ramp-up and the debottlenecking of certain components' supply post-Chinese New Year, we will accelerate the delivery of the X9 in March," Xpeng said.
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Li Auto said it is targeting a rebound to 50,000 monthly deliveries in March.
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Focus will mostly be on the gross margin, and Nio management's guidance for first-quarter deliveries are expected to be weak.
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The opening of the facility marks the imminent start of production of ClearMotion1, an active suspension product that will be fitted to the Nio ET9, ClearMotion said.
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Chinese customers who take delivery of already-produced vehicles of the Model 3 and Model Y by the end of March can get benefits including an insurance subsidy of RMB 8,000.
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CATL is still in the process of developing and validating the M3P battery with Tesla, and the exact timing of the installation is not yet clear, according to local media.
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