Phate Zhang

When Hefei invested in Nio, it did a lot of research and analysis before making the decision, according to local media.

As demand for BYD vehicles climbs, the number of vehicles for which BYD Auto Finance provides loans is also expected to explode in 2022, BYD said.

On top of state subsidies, Guangdong will offer additional subsidies to consumers who purchase NEVs.

Inceptio expects it to surpass 100 million cumulative miles of self-driving operations by the end of 2022.

Analysts at Essence Securities expect steady-state monthly sales of the BYD Seal to exceed 30,000 units.

The project, located in Chengdu, Sichuan province, will include a 50 GWh per year power and energy storage battery production site, as well as a local research institute.

Although the service is limited to a small area of Beijing, it represents a dramatic shift in regulators' attitude toward the sector.

The Smart #1 is the first production model launched after the electrification transformation of the Smart brand, with a pre-sale price range of RMB 190,000 ($29,000) - 230,000 after subsidies.

As one of the top contenders for the Tesla Model 3, BYD's upcoming Seal is undoubtedly one of the most talked about models recently.

Xpeng's production and logistics appear to be the least affected by the Shanghai lockdown, and supply chain management also appears to be more resilient than peers, said Edison Yu.