Phate Zhang

Those with successful financing, mass production and deliveries, and annual sales of over 10,000 are a rarity, with only Nio, Xpeng Motors, Li Auto, Leap Motor, Neta, and WM Motor.

BYD Semiconductor was established in October 2004, and BYD directly holds 72.3 percent of the shares, making it the controlling shareholder of the company.

The People's Daily said that at this year's Shanghai auto show, for the first time, smart electric cars are no longer just a concept, but perceptible mass-produced products.

In a month where Tesla's image in China was severely tarnished, the company's sales here remained high, despite a decline from March.

Under the agreement, Nio will provide Sansha with a fleet of smart electric vehicles and invest in charging and storage facilities.

Xpeng closed down 4.61 percent to $25.46 on Monday amid a broad market sell-off, down about 58 percent from its recent high of $60.04 in late January.

The HiPhi X starting at RMB 570,000 for the six-seat version and up to RMB 800,000 ($124,500) for the four-seat version.

Nio CEO William Li has said that the company has no plan B on the LiDAR option, implying that Nio is fully supporting the development of Innovusion.

The product pricing allows Neta to avoid direct competition with the US-listed Chinese EV trio Nio, Xpeng and Li Auto.

More than 36,000 users have driven more than 20,000 kilometers, and Nio Pilot has driven 164,068,765 kilometers.