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The company will operate a fleet of 40 vehicles in a manned autonomous driving test area covering 700 kilometers of road, with routes including residential and business areas in Yizhuang, Haidian and Shunyi districts.

The company plans to go public on the Hong Kong stock exchange next year targeting a valuation of billion to billion, according to an earlier report by South China Morning Post.

The complex, listed by China as a key project for the Belt and Road Initiative, also represents efforts by Brunei, a member of the Association of Southeast Asian Nations, to partner with Chinese businesses to diversify its sources of income and further improve infrastructure.

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The company hopes to sell 2,000 EV10 cars this year. The model is priced between 59,800 and 67,800 yuan with subsidies.

The company, which has an initial staff of 20, expects to start producing the lipsticks by the end of this year.

The company is particularly delving into consumer-facing solutions. Alibaba's payment affiliate Ant Financial unveiled a biometric identification technology open platform dubbed ZOLOZ, through which organizations can apply Ant's facial recognition, human-machine interaction, and other technologies to a variety of business and civic scenarios.

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The company recommends products with excellent quality and reasonable prices to customers by utilizing big data technology and analyzing commodity sales, user ratings, brands influence and price information.

The company's first quarter sales in 2020 plunged 55.7 percent year-on-year to about 679,000 units, worse than the country's 42.4 percent decrease in car sales, data from the China Association of Automobile Manufacturers showed.

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The company told Xinhua that it does not show up at the expo because it is still focusing on product development, manufacturing preparation and getting EV production qualification certificates.

The company will proactively communicate with regulators to ensure the drug will be included into the country's drug reimbursement list as soon as possible to reduce patients' financial burden, although the drug is priced quite modestly, it said.