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By the end of October, China had the world's fourth largest number of listed firms, 3,573, which total market capitalization of 44.65 trillion yuan (about .5 trillion), the second largest in the world, official data showed.

Byton's Series B funding round is set to be finalized in the next a few weeks, according to Carsten Breitfeld, CEO and co-founder of the automaker.

By the end of February this year, the system has been used to handle over 80,000 cases, mainly traffic cases, credit card disputes and administrative information disclosure issues.

By the end of 2020, China aims to have 58 million kilowatts of nuclear power capacity in operation and more than 30 million kilowatts under construction.

CATL and BYD may have to lose some market share while the smaller battery makers, which number around 100 in the country, may find it exceedingly difficult to survive, they said.