Phate Zhang

He said Nio is involved in building a world-class smart electric vehicle industry cluster in Hefei, with the main purpose of achieving low-carbon and sustainable development.

The battery swap station takes up the area of the parking space needed for two Baojun E200s, which measurs just 2,497*1,526*1,616 mm.

CATL's first European plant is under construction in Germany and aims to localize the production of lithium-ion batteries, the company said.

China's largest automaker SAIC Motor aims to sell more than 2.7 million new energy vehicles (NEVs) worldwide by 2025, accounting for at least 32 percent of its total sales.

The MIIT will work with relevant departments to accelerate coordination and promote the high-quality development of new energy vehicles.

Nio announced on September 16 that it has completed a network of battery swap stations in highway service areas from Beijing to all major neighboring cities.

In 2017, Momenta received a Series B investment of $46 million led by Nio Capital, the venture capital arm of Nio.

Leapmotor's overall sales target for 2025 is 800,000 units, the company said previously.

The MIIT on Thursday issued a notice on strengthening cybersecurity and data security for connected vehicles, saying the safety and security systems for such models urgently need to be improved.

"If we need additional capacity in a year or two…we may think about using M&A as a tool to get more capacity."