Lotus CEO Admits Price Cut "Betrayed" Existing Owners; NIO's Chip Subsidiary Raises Over RMB 2.2 Billion

On February 26, Feng Qingfeng, CEO of Lotus Cars, responded to discontent among existing owners following significant price cuts for the EMEYA and ELETRE models. He candidly acknowledged that the move appeared to "stab loyal customers in the back," admitted the company had failed to properly address the concerns of existing users, and recognized that this had damaged brand perception. On the same day, Anhui Shenji, NIO’s chip-making subsidiary, completed its Series A financing round, raising over RMB 2.2 billion, with a post-money valuation nearing RMB 10 billion. The funds will be used for the development of autonomous driving and embodied intelligence chips. Additionally, XPeng announced that Volkswagen will become the launch customer for its second-generation VLA large model. Tesla China introduced a low-interest loan plan with terms up to seven years, offering five-year zero-interest financing on models including the Model 3 and Model Y. BMW also deepened its collaboration with CATL, revealing that the first domestically produced long-wheelbase version of its next-generation iX3 will debut at the Beijing Auto Show in 2026.