The year 2018 is expected to witness the rapid development of new energy cars, and Chinese electric vehicle start-ups, including NIO, Xiaopeng, Singulato and Weltmeister, are all expected to deliver exciting new products, Yicai.com reported.

It also means that smart cars will usher in a peak delivery for the year ahead, following the sales record of 700,000 units in 2017.

Meanwhile, the deployment of capital in the sector is undergoing tremendous changes. Bill Russo, founder and CEO of Automobility, a strategic investment consultancy firm, said venture capital and corporate investors in the supply chain of the industry are now trying to expand into areas such as autonomous driving technology.

It has been reported that at least 150 deals worth more than US$4.8 billion were made to prop up the electric car sector by the end of November last year.

Most investments are focussing on areas such as assisted driving and automatic driving, driver safety tools, driving data, motorcade telematics, inter-vehicle communication, as well as car information security.