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The company is investing close to 0 million in the four US locations, including purchase prices.

The company plans to replace imported materials and devices with domestic ones in the manufacturing of its 3D products as soon as the authorities concerned approve them.

The company plans to invest 6 to 8 billion yuan on 5G spending in 2019, and it will decide the investment scale in 2020 based on how 5G trial networks run this year, Wang added.

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The company said it told the FAA.

The company's ambition came after the Ministry of Industry and Information Technology, China's top industry regulator, rolled out favorable policies to encourage enterprises to embrace cloud services.

The company started production in early 2016. It has sold over 60,000 vehicles so far this year.

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The company's earnings in China are partly driven by the stronger spending power of local consumers. Consumption power in lower-tier cities, in particular, has been revving up, according to Koay.

The company's optimism on the Chinese market stems from the stock connect between the London and Shanghai bourses that was established last year. The Shanghai-London Stock Connect enables companies to float shares on both exchanges simultaneously via a depository receipt mechanism, a milestone in China's accelerated financial opening-up.

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The company said last August it planned to double its Palo Alto staff, which would mean hiring more than 100 researchers and engineers.

The company was not immediately available for comment.