Lei Kang

Prior to entering Malaysia, Neta's efforts in Southeast Asia focused on Thailand and began construction of a Thai factory in March.

BYD's advanced driver-assistance system, called DNP, will be available on the new Han sedan in the third quarter, according to local media.

BYD returned to the top spot in the LFP battery market with a 42.68 percent share in April, overtaking CATL's 33.65 percent.

Irrational promotions in China's auto market since March have led to consumer wait-and-see, so auto consumption is still in a slow recovery process, the CAAM said.

The purchase order involves LFP Unified Cell products with the same design style and specifications as those for the Chinese market for Volkswagen's full range of NEVs.

The unification of the chip and algorithm businesses is a positive sign that BYD is accelerating the pace of its own smart driving research and development, local media said.

Demand for NEVs is expected to pick up in the second quarter as lithium carbonate prices stabilize, according to analysts at CITIC Securities.

From January to April, the Model Y sold 121,407 units, making it the second-best-selling new energy SUV in China during this period.

Eve Energy sealed a battery cell supply relationship with BMW last September to supply large cylindrical lithium-ion cells for the latter's Neue Klasse line of vehicle models.

The Chaser 07 is about the same size as the BYD Han PHEV and will target the RMB 200,000 to 250,000 hybrid market.