Phate Zhang

"I strongly believe that the demand for ADAS will surge in the next five years, and Xpeng will be the preferred smart EV brand for consumers," said Xpeng CEO.

Located in the Silicon Valley area, the plant is Gotion's first US battery pack production line, targeting the Americas energy storage system market.

Customers who buy a Nio vehicle including the battery pack on or after January 1, 2024, will only be able to permanently upgrade the standard-range battery pack to long-range one year later.

Xiaomi wants to become one of the top five car companies in the world in 15-20 years and aims to be among the top-tier players in the smart driving space in 2024.

Xiaomi hopes to become one of the top five car companies in the world through 15-20 years of efforts, said CEO Lei Jun.

In Shanghai, NOP+ is now available on 99 percent of the city's main roads, while the coverage of all urban roads in the city, including main roads and all side roads, reached 78.4 percent.

Zeekr aims to make the Zeekr 007, which comes standard with an 800 V electrical system and has a starting price of about $29,390, the benchmark in its segment.

BYD said it received its first permit on July 21, the first in China, and emphasized that L3 autonomous driving is not fully self-driving.

Tesla is currently working on preparations for the updated Model Y in China, which could begin mass production as early as mid-2024, according to Bloomberg.

Competition is fierce at the moment, and the timing of Nio's second brand's entry into the market is important, William Li said on December 24.