Ideal Auto's R&D expenses hit a new high

Ideal Auto's R&D expenses in the fourth quarter of 2023 reached 3.49 billion yuan, a year-on-year increase of 68.6%. The annual R&D expenses reached 10.59 billion yuan, a year-on-year increase of 56.1%, setting a record high. These investments will further promote Ideal Auto's technological innovation and business development.