1. In response to recent speculation, NIO co-founder and CEO William Li said that the company has released and delivered five new vehicles so far this year and has built a new factory with an annual capacity of 300,000 vehicles.
2. Chinese battery giant CATL announced that on November 17, the company repurchased 1.0431 million shares of the company for the first time, accounting for 0.0237% of the company's current total share capital.
3. Volvo closed 11.1% down at SEK36.29 in Stockholm on Nov. 17, after earlier dropping over 14% to an all-time low. Geely will sell about 3.3 percent of Volvo's shares for about USD350 million to support the globalized development of its affiliated brands, the Chinese carmaker announced on Nov. 17. After the sale, Geely will still hold 78.7% of Volvo.
4. 1,200 cars of new Tesla Model 3 were exported from Shanghai Southport Terminal early Sunday. As the major export center of Tesla electric vehicles, the Gigafactory Shanghai has lifted its annual production capacity to 950,000 units by the third quarter, after a production line upgrade.
5. Li Auto launched its new luxury car, the fourth pure-electric one, at the ongoing Guangzhou International Automobile Exhibition. Li Mega is a 5.3-meter-long pure-electric multi-purpose vehicle that aims to become the best-seller in the market segment of cars priced at over CNY500,000 (USD69,500), Li Auto's Vice President Liu Jie said. Deliveries for the Li Mega will begin in February, Liu added.
6. China's electricity consumption, a key barometer of economic activity, totaled 7.6059 trillion kWh in the first 10 months of 2023, up 5.8% YoY, the National Energy Administration said. In October alone, the country's power use expanded 8.4% YoY to 741.9 billion kWh.
7. China's Marine Economy saw steady growth in the first three quarters of 2023, official data showed: Marine economy GDP totaled CNY 7.2 trillion (about $1 trillion), up 5.8% YoY; Offshore wind power generation up 19.2% YoY; Offshore crude oil and natural gas production up 4.6% and 9.7% YoY, respectively.
8. Tesla is reportedly set to raise prices in China again this week due to strong sales and rising costs. In recent weeks, Tesla has raised prices by three times. The first increase came on October 27, when the price of the Model Y Performance was raised by 14,000 yuan.
9. According to Li Auto officials, the cumulative delivery volume of Li Auto in 2023 will exceed 300,000 units, and the single-model delivery volume of Li Auto's L9, L8, and L7 models have each exceeded 100,000 units.
10. China saw 41,947 new foreign-invested firms established in the first 10 months of 2023, up 32.1% YoY. Foreign direct investment (FDI) in the Chinese mainland in actual use totaled 987.01 billion yuan (about $137.6 billion) in the same period, according to the Ministry of Commerce.