The company now has developed classes from Level 1 to Level 5, with more classes already in the pipeline.
The company's revenue from air conditioners rose 40.1 percent to 123.41 billion yuan, accounting for more than 83 percent of the total.
The company spends almost 0 million a year purchasing imported chips, which air-conditioner makers in China are unable to produce domestically. Gree's move into chip research and development will reduce the industry's reliance on imported chips. Gree has reportedly already designed one of its own chips and is currently engaged in manufacturing research.
The company is in the final stages of talks with the Zhuhai municipal government to build a chip plant there with a total investment of about billion, according to a report from Nikkei Business Daily.
The company said that in the future, it will speed up the research on high power charging technology and organize relevant pilot work. The pilot work will cover Beijing and Shandong, Jiangsu, Hunan and Fujian provinces among others.
The company's move is aligned with the call from State-owned Assets Supervision and Administration Commission of the State Council to ensure stable production and operations to back the country's economic development while preventing the virus from spreading further.
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The company, in Wuhan, Hubei province, said it aims to export 77,500 vehicles this year, covering a wide range of markets including South America, Africa, Southeast Asia and the Middle East.
The company started deliveries of the Model Y in March, promising a much-awaited crossover that will face competition from European carmakers like Volkswagen AG rolling out their own electric rivals.
The company is also cooperating with Palace Museum in Beijing to "digitalize" precious art pieces there.
The company's studies also showed new pharmaceutical products are being brought to the China market faster due to related policy reforms, and more are from Chinese companies.