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To prevent the sporadic resurgence of COVID-19, China encouraged people to stay put over the holiday this year, which lasted from Feb. 11 to 17.

With an investment of 42 million yuan, the 5,000-square-meter plant has an annual capacity of 10,000 superchargers, mainly the V3 model, at the initial stage.

In January, the service sector saw a slower pace of recovery, with the sub-index for business activities standing at 51.1, down 3.7 percentage points from that in December.

In 2024, the country's spending on IoT will account for 26.7 percent of global spending in the sector, followed by the United States at 23.8 percent and Western Europe at 23.4 percent.

The new company, which will operate as an independent subsidiary of Baidu, will oversee the entire industrial chain, from vehicle design and research and development to manufacturing, sales and service.