Phate Zhang

Tencent recently added several new patents, one of which involves smart driving technology, meaning the Chinese social giant is also taking aim at this hot new industry.

With 5,205 insurance registrations in November, NIO is significantly ahead of the three major German luxury brands in China's high-end new energy passenger car market, surpassing the combined new energy vehicle sales of BMW and Audi, and ranking second only to Tesla.

Chinese EV maker NIO today announced plans to offer 60 million American depositary shares (ADSs), each representing one Class A ordinary share of the company. 

Tesla, XPeng, and Li Auto have all issued or announced plans to issue additional shares, leaving NIO the only major EV maker not having announced such plans as of Thursday.

Huawei's new sports health science lab was put into use today. The lab is divided into a wearable product reliability test lab and a sports health professional evaluation lab.

Chinese carmaker Great Wall Motors is planning to launch a new premium smart electric car brand to compete with new Chinese car makers like NIO and Li Auto.

Local governments will be encouraged to optimize auto purchase restriction measures, automakers will be encouraged to enter the rural market, and customers will be encouraged to do trade-ins.

China recently announced a target of 20 percent penetration rate of new energy vehicles by 2025, and in the opinion of William Li Bin, founder, chairman and CEO of NIO, this target is actually a somewhat conservative one.

In November, China shipped 20.13 million 5G phones, accounting for 68.1% of all cell phone shipments in the same period, according to data from the China Academy of Information and Communications Technology (CAICT), a government think tank.

Automotive brands around the world are basically looking for supply chains in China, including Tesla, Toyota, and Volkswagen, which is a huge advantage for local brands, William Li Bin said.