Analysts at Essence Securities expect steady-state monthly sales of the BYD Seal to exceed 30,000 units.

As demand for BYD vehicles climbs, the number of vehicles for which BYD Auto Finance provides loans is also expected to explode in 2022, BYD said.

Inceptio expects it to surpass 100 million cumulative miles of self-driving operations by the end of 2022.

Although the service is limited to a small area of Beijing, it represents a dramatic shift in regulators’ attitude toward the sector.

The Voyah Dreamer MPV offers intelligent electric four-wheel drive and accelerates from 0 to 100 km/h in as fast as 5.9 seconds.

The project, located in Chengdu, Sichuan province, will include a 50 GWh per year power and energy storage battery production site, as well as a local research institute.

CARIAD’s China team currently employs more than 600 people, a number that will double by the end of 2023.

On top of state subsidies, Guangdong will offer additional subsidies to consumers who purchase NEVs.