NIO CEO William Li told the China Auto Chongqing Forum that domestic passenger vehicle retail sales have already fallen 19.
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Chairman Li Shufu announced a full operational restructuring at the Chongqing Auto Show, targeting closure, suspension, merger, or divestiture of redundant facilities.
French regulators announced two new fines totalling over €22 million (US$25.4 million) against Shein on June 3, covering product traceability, environmental information, return rights, and delivery times.
Chinese regulators have summoned eight electric vehicle manufacturers over the use of over-the-air software updates to lock battery capacity without consumer knowledge.