This week, the new energy vehicle (NEV) market has been abuzz with major developments. According to a Brand Finance report, Tesla’s brand value declined by $15.4 billion in 2025—a 36% drop—marking its third consecutive year of decline. Key factors include lackluster product innovation, relatively high pricing, and controversies surrounding Elon Musk’s involvement in geopolitical issues. Despite this, Tesla’s stock price rose by approximately 11%. Meanwhile, Xiaomi’s SU7 achieved annual deliveries of 258,000 units, surpassing the Tesla Model 3 (200,000 units) for the first time to become China’s best-selling premium all-electric sedan of the year. Additionally, the Harmony Intelligent Mobility Alliance’s Shangjie H5 has surpassed 30,000 cumulative deliveries; Li Auto’s MEGA has delivered over 30,000 units and topped sales in the MPV segment priced above RMB 500,000; and NIO has exceeded 99 million battery swaps, with a total of 8,596 battery swap and charging stations nationwide.