European Commission Issues Guidance Document on EV Price Undertakings
The European Commission issued a Guidance Document on the submission of price undertaking offers in the context of the anti-subsidy duties in place on battery electric vehicles from China. The Guidance Document provides Chinese exporters of BEVs to the EU with general guidance on the submission of price undertaking offers. It covers various aspects to be addressed in a possible undertaking offer, including the minimum import price, sales channels, cross-compensation, and future investments in the EU. Each price undertaking offer is subject to the same legal criteria and the European Commission will conduct each assessment in an objective and fair manner, following the principle of non-discrimination and in accordance with WTO rules. Publicly traded companies in the Chinese electric vehicle space include XPeng (XPEV), Nio (NIO), Li Auto (LI), BYD (BYDDY), and Geely (GELYF). Publicly traded companies in the broader auto space include Ford (F), General Motors (GM), Honda (HMC), Lucid Group (LCID), Mercedes-Benz (MBGYY), Nissan (NSANY), Rivian (RIVN), Stellantis (STLA), Tesla (TSLA), Toyota (TM) and Volkswagen (VWAGY).
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Alibaba Launches Self-Developed AI Chip Amid U.S. Export Controls
- Chip Launch: Alibaba's semiconductor design unit T-Head has unveiled the Zhenwu 810E chip, a fully in-house designed application-specific integrated circuit aimed at high data throughput for generative AI, delivering performance comparable to Nvidia's H20, marking a significant advancement in the company's AI infrastructure efforts.
- Increased Market Competition: Amid U.S. export controls limiting China's access to advanced semiconductors, Alibaba is intensifying its investment in AI infrastructure to reduce reliance on Nvidia, which previously controlled about 95% of China's advanced AI chip market, highlighting the strategic shift in the competitive landscape.
- Cloud Service Expansion: The Zhenwu 810E chip is already operational in multiple 10,000-card clusters within Alibaba Cloud and is being utilized by large external customers, which not only enhances Alibaba Cloud's service capabilities but also potentially strengthens its competitive position in the cloud computing market.
- IPO Plans Emerging: Founded in 2018, T-Head focuses on the design of computing and storage chips, and with increasing market demand, Alibaba's chip unit may consider an IPO, further advancing its strategic positioning in the semiconductor sector.

Nio Shares Rise 3.92% on Buy Rating Boost
- Stock Price Increase: Nio (NIO) closed at $4.77 on Thursday, up 3.92%, primarily driven by analysts reiterating a Buy rating and a $7 price target, indicating growing market confidence in its future performance.
- Surge in Trading Volume: The trading volume reached 73.5 million shares, approximately 57% above the three-month average of 46.9 million shares, reflecting a significant increase in investor interest and potentially signaling improved market sentiment.
- Market Dynamics: Nio's stock rise contrasts with peers like XPeng (XPEV) and Li Auto (LI), which saw declines of 0.38% and a modest increase of 0.64%, respectively, highlighting the volatility within the Chinese EV sector.
- Future Outlook: Recent upgrades from analysts, particularly from Macquarie, have helped stabilize expectations, and investors will closely monitor future delivery numbers and the progress of the upcoming ES9 model to assess Nio's long-term performance.






