Automakers usually provide high forecasts to their supply chain, while suppliers make their own judgments based on the competitiveness of the vehicle models and the operating results of the car companies.

In addition to the G3i, P5, P7 series, G9, and G6 currently on sale, Xpeng's new models for next year will include the X9 MPV and a large new sedan, according to 36kr.

On August 27, Xpeng announced that it will acquire the EV business of Chinese ride-hailing giant Didi Global and will launch a new brand based on the partnership between the two, targeting a market that sells for less than Xpeng's current models.

Xpeng plans to launch a new EV brand in 2024 and is currently developing the project name Mona, the company previously said.

The first model in the Mona program will be an A-segment smart EV model to be launched in 2024, the company said at the time, adding that the new model and brand will differentiate itself from Xpeng-branded products and the main brand.

For Li Auto, the company is expected to launch several new models in 2024.

Apart from the current three extended-range electric vehicle (EREV) models -- Li L9, Li L8 and Li L7 -- and the first battery-electric vehicle (BEV) model, Li Mega MPV, which will be launched at the end of the year, Li Auto will also have four new models to be launched next year, including the Li L6 EREV and three BEV models, the report said.

By the end of next year, Li Auto will have eight models on sale, the report said.

Li Auto's sales forecast for the Li Mega in 2024 is 80,000 units, and for all four BEV models next year is close to 150,000, according to 36kr.

Li Auto management said during a strategy meeting ahead of China's early October National Day holiday that the company is targeting sales of more than 3 million units by 2028, the report said, adding that such aggressive sales growth projections are rare in the industry.

However, Li Auto has not yet ventured into the BEV segment, and pure electric MPVs are an under-proven market, the report noted.

Li Auto still relies heavily on EREVs for its sales, and whether its all-electric MPVs will be accepted by the market needs to be proven, but it has more leverage on its hands than its peers, 36kr said.

Li Auto plans to officially launch the Li Mega in December, and the model will be available in stores in January next year, with deliveries starting in February, the company announced at the Chengdu auto show in August.

Li Auto delivered 40,422 vehicles in October, surpassing the 40,000 mark for the first time, up 302.13 percent year-on-year and up 12.1 percent from September.

From January to October, Li Auto delivered 284,647 vehicles, up 193.51 percent year-on-year.

China EV insurance registrations for week ending Nov 5: Nio 4,200, Xpeng 4,700, Li Auto 8,600, Tesla 14,000