American Auto

The Buick Electra E4 starts at RMB 189,900 in China, with deliveries set to begin in July.

"They developed very quickly, and they developed them in large scale. And now they're exporting them," Bill Ford said.

Only about 2 months ago on April 13, Buick launched the Electra E5 SUV -- its first model based on GM's Ultium platform -- in China.

"I believe we can get production up and running in China as early as next year, potentially adding capacity of 75,000 Fisker Oceans annually," Fisker CEO said.

The Mustang Mach-E team will be integrated back into Ford China and the separate entity running the project will be written off in the future, according to local media.

Zhu Jiang, a former executive at Nio, Ford and Jidu Auto, has joined Lucid to head up its China operations, and he said Lucid is starting to prepare for its entry into the country.

The Electra E5 received more than 8,000 orders after 12 days on the market, Buick previously said.

Buick Electra E5's aggressive pricing in China has garnered a good initial reception.

The Electra E5 is comparable in size to the FAW-Volkswagen ID.6 CROZZ, but priced about RMB 50,000 less than the latter.

The Electra E5, Buick's first electric model based on the Ultium platform, is a 5-seat SUV measuring 4,892 mm in length.