Nio

Nio’s shares surged 19-fold in the past twelve months.

Nasdaq-listed Nio also reported record-high deliveries in the same month.

After surviving last year’s financial trouble, Nio has ramped up efforts in its self-driving division.

China’s EV startups have posted strong Q3 results as clean-energy cars gain national support.

Sales of new energy vehicles in China is expected to reach 20% of total car sales by the end of 2025, the state council says.

Tesla increased Model 3 production capacity at its Shanghai Gigafactory to 250,000 units a year and it is building a new factory for its Model Y.

The investment indicates investors are picking up confidence in the ride-hailing sector again after a two-year winter.

Faraday Future will use the new funds to support mass production of its FF 91 model.