Smart and Sustainable Electric Mobility
China EV stocks are up an average of 20 percent year-to-date but have underperformed China tech ADRs since December, likely due to investor concerns about weak first-quarter sales and increased competition, according to Edison Yu's team.
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In terms of penetration, new registrations of NEVs in Shanghai contributed 53 percent of all new vehicle registrations in 2022.
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A facelift of the XPeng P7 is expected to debut in March, the new SUV G7 is expected to be unveiled at the Shanghai auto show, and an MPV model is scheduled to begin mass production in September, according to local media.
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Auto dealers' sales pace was disrupted in January due to the impact of the Covid infection wave and the early timing of the Chinese New Year, the CPCA said.
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NIO vehicles registered 2,818 and 2,963 insurance units in China in the first two weeks of January, respectively.
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