Company Registration

Previous reports said Firefly models would be built at Nio's F4 plant in Chuzhou.

The company's business scope includes energy storage technology services and solar power technology services, and may be the operating entity for Tesla's energy storage business in China.

The joint venture will focus on the production of several of BYD's best-selling models, including the DM-i super hybrid models, and related parts.

The company, which has a registered capital of 5 billion yuan ($718 million), has a range of operations including battery manufacturing, battery sales, battery parts production, motor manufacturing and R&D.

Xpeng may be preparing for future battery development. A month ago, a similar company established by Nio received a lot of media coverage.

Making batteries is a normal strategy for automakers, said William Li.

The company has a registered capital of RMB 2 billion ($275 million) and its business scope includes battery manufacturing and battery sales.

Nio's assisted driving system, NAD, is available on a subscription basis with a service fee of RMB 680 per month and is expected to be available starting in the fourth quarter in China.

Previous information indicated that the company, which is 70 percent owned by Li Auto's affiliates, would focus on SiC chip development.

Li Auto's subsidiary engaged in venture capital was established on March 4 with a registered capital of RMB 600 million.