SAIC

By Thursday's close, the company's shares were down 12 percent this year. BYD, by comparison, rose 40 percent in the same period.

SAIC passenger vehicle branch's Roewe, MG and R brand sold more than 17,000 NEVs combined in August, up 390 percent year-on-year.

The Hongguang Mini EV offers 120km, 170km NEDC range options and are priced at RMB 37,600 ($5,820) and RMB 43,600 respectively.

SAIC sold about 260,000 units overseas in the first half, up nearly 100 percent year-over-year, the company said.

A wave of autonomous driving is sweeping China's auto industry, and commercial vehicles are being included.

SAIC's first-half net profit attributable to shareholders of the listed company was RMB 13.31 billion, up 58.61 percent year-over-year.

The KiWi EV, which has been available for pre-sale since August 11, is offered in two versions, a base version priced at RMB 69,800 ($10,766) and a premium version priced at RMB 78,800.

SAIC Group's car sales in July were 352,546 units, down 22.95 percent from 457,558 units a year ago, according to data released by the company Friday.

SAIC Group, China's largest local automaker, and smartphone giant OPPO signed a cooperation agreement on August 5, aiming to bring the cell phone experience into the car.

The Pocco Duoduo, a new car from local Chinese carmaker Pocco that competes with the Wuling Hongguang Mini EV, will open for pre-sale on August 6, the company announced Thursday.