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"China is one of the most dynamic markets, where enterprises are aggressively pushing forward digital transformation, creating abundant growth opportunities," Crozier said.

"China is about 30 percent of the global market for semiconductors," Mike Russo, vice-president of SEMI, an advocacy group, told China Daily. "The industry as a whole and all nations involved benefit from access to markets. Companies re-invest profits in research and leverage new technology. Folks are jockeying for access — no one has sewn it up."

"China is only at the beginning of the journey of increased gas which we think will at least double if not triple in the next 10-15 years. Right now the percentage of natural gas in China's energy mix is still relatively small (6.6 percent in 2017) compared to some of the more advanced economies (ranging from 22 percent to 67 percent)," he said.

"But we see that as an investment in the longer term. We are building our own type of intellectual property protection around it, so that we also have a sustainable profit model for the long term. I think in five to 10 years from now, bio-based will be the mainstream."

"Chehaoduo Group is committed to promoting industrial improvement through technology reform and becoming the new engine to drive the future of automotive retail in China. Our vision is to help families in China to be able to own a better car. The support of the Vision Fund not only strengthens the Group’s capital base, but also has the potential to boost our big data and AI innovation capabilities, which can be applied to the whole automotive retail value chain.