Phate Zhang

"By the end of 2019 to the beginning of 2020, I made enough money to buy two or three planes, but then I've been putting it into my startup," he said at the GeekPark Innovation Conference 2021.

The analyst is bullish on Xpeng's long-term growth prospects in China's electric vehicle market, where it has taken first-mover action in developing the full range of in-vehicle and autonomous driving systems.

The vehicles within the recall are at risk of short-circuiting between the positive and negative electrodes of high-voltage DC, which may lead to no high-voltage electricity supply to the inverter.

Morgan Stanley raised its outlook for China's electric vehicle market and is bullish on the performance of the country's electric vehicle trio.

Tesla has set the Model S Plaid at a starting price of RMB 999,990, ($154,600), down RMB 174,910 ($27,044) from the previous price, Tesla China website showed.

At a subscription price of $10.00 per PIPE share, the transaction indicates an implied equity value of $3.4 billion for the combined company.

Faraday Future (FF) expects to sell more than 400,000 units over the next five years and has received more than 14,000 orders for its first flagship model, FF 91, the company said today.

After Wednesday's selloff, China's electric car trio -- Nio, Xpeng Motors, and Li Auto -- continued to plunge in pre-market trading on Thursday.

Under the CTC battery technology, the electric cell can be integrated directly into the chassis, achieving a higher degree of integration.

Chinese automaker Geely will act as an anchor investor, with the deal valuing Faraday Future at about $2.7 billion.