On either side of the Pacific Ocean, tech companies seem to have an obsession with the sky. While Elon Musk is launching rockets to space, Chinese electric vehicle company XPeng - a prominent domestic challenger to Tesla - is aiming for a lower altitude. On Oct. 24, it released a new product: a flying car that it says will enter mass production in 2024.

——Will China really have flying cars in 2024? by protocol

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Thanks to China's strong intellectual property protection and a sound business environment, Chinese new energy vehicle companies have invested heavily in R&D and technological upgrading, enabling them to compete with global technology giants in the field of new technologies.