Recently, Ideal Auto CEO Xiang Li himself posted again, saying that they are proud of their extensive use of local suppliers in China.

Mr Li said: Recently there has been a resurgence of organised hacking of us, and the tactics are very uniform - a lot of use of local Chinese suppliers.

We are proud of our extensive use of local Chinese suppliers. If consumers dare to buy Chinese brands, we dare to use local Chinese supply chain enterprises.

We have numerous local suppliers in China, such as Horizon and Core chips, Changxin memory, laser radar Hesai, battery Ningde Times and Xinwang, air suspension Kong Hui and Bolon, brake system Bethel, HUD Future Black technology and so on.

Li also revealed that the chip localization rate of the L Series of Ideal Automobile has exceeded 25 percent, which is probably the highest rate of chip localization. We have invested a lot of research and development and testing expenses for this.

We're not afraid of being hacked on this level, and we're proud of it.

There are three requirements for choosing an ideal automobile partner in China: 1. A small leader in the subdivided industry with sufficient technical focus; 2. 2, the founder is still working hard in the company, not only looking at the immediate interests; 3. Have relatively healthy capital reserves.

According to the official report, Ideal Auto's quarterly revenue reached 18.79 billion yuan in the first quarter of 2023, up 96.5% year on year and exceeding the previous estimate of 18.68 billion yuan.

Meanwhile, Ideal Auto's NON-GAAP net profit was Rmb1.41 billion, up 196% year on year. In addition, the number of Ideal cars delivered in a single quarter reached 52,600 units.