Phate Zhang

The outgoing Wang Yilun is mainly responsible for AI algorithm development work including smart driving perception and mapping at Li Auto, according to local media.

The company has a registered capital of RMB 2 billion ($275 million) and its business scope includes battery manufacturing and battery sales.

Xpeng unveiled a flying car design closer to production and provided updates on robotaxi as well as the XNGP.

The US remains Tesla's largest market, contributing 47.73 percent of revenue in the third quarter.

In terms of retail sales, the penetration rate of NEVs in China is expected to be about 28.8 percent in October, down from 31.8 percent in September.

For Tesla owners, they can earn bonus points upon delivery if they refer a friend to buy a Tesla vehicle.

Su Jing, a former Huawei executive and self-driving industry veteran, has joined Volkswagen's joint venture with Horizon Robotics, according to local media.

All versions of Tesla Model 3 and Model Y are priced lower in China, with the entry-level Model Y dropping below RMB 300,000 and eligible for purchase subsidies.

Great Wall Motor will set up a chip company with its chairman that may involve chip development in the areas of IGBTs, autonomous driving and smart cockpit.

Delivery of the cars from the purchase option will begin in 2023.