Lei Kang

The Model S starts at RMB 789,900 ($115,000) in China and the Model X at RMB 879,900.

Xiaomi's first model will compete with Tesla's Model 3 sedan, but is stronger in size, and performance and similarly positioned to the Xpeng P7, according to local media.

The two models are built on Yangwang's e⁴ platform, the first mass-produced four-motor independent drive technology platform in China.

From January to October 2022, a total of 493,600 new vehicles were sold in Beijing, 34.24 percent of which were NEVs.

Deliveries of Lotus Eletre with optional electronic exterior mirrors will begin as early as July 1, 2023, the first day that Chinese regulations will allow car companies to use such mirrors.

Neta's sales of 152,073 units in 2022 are the highest of China's major new car makers, but its flagship model starts at half the average sales price of Nio models.

Scale is important for a car company, and without scale it's impossible to be profitable, said Leapmotor's CEO.

CATL's installed power battery volume from January to November was 165.7 GWh, ranking first with a 37.1 percent market share.

Ruilong was founded in 2016 and has four recycling plants, three of which are already in operation.

Tesla China chief Tom Zhu has reportedly been promoted to run the electric vehicle maker's US assembly plants as well as sales operations in North America and Europe.