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The company was founded in 2013 by local businessman Li Hong, who used to act as a middleman in foreign trade. He realized that as the standard of spoken English among Chinese people improved, his profit margins were shrinking.

The company will update the ECU software of the affected automobiles free of charge, and install necessary parts and components also free of charge.

The company markets its products to wire producers, and the end products are used for home appliances, automobiles and machines.

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The company's main focus in China will be to grow the go-to-market team, aiming to be No 1 in every segment that it participates.

The company is also leveraging its technology repertoire to branch out into other AI-enabled sectors. It is developing an AI-enabled system to assist courts in reviewing four types of cases, namely murder, theft, telecom fraud and illegal fundraising.

The company's statistics showed customers in other BRICS countries were most attracted to Chinese textiles and clothing, consumer electronics and furniture.

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The company reported its net income amounted to 122.3 billion yuan (.9 billion) in the second quarter of the year, an increase of 31.2 percent year-on-year, while its net profits dropped to 478.1 million yuan, down 51.04 percent compared with same period last year.

The company said it finished the quarter with billion in cash and cash equivalents, the highest in Tesla's history to date.

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The company is in talks with Viridis Eolia, a Wyoming-based renewable energy company, for a wind project in Carbon County, where it hopes to recruit workers from the training program once they finish their training.

The company's shares fell by 0.49 percent on Thursday on the Shanghai Stock Exchange.