An electric car made by IM Motors is showcased at an exhibition. [Photo/Official Wechat account of the administrative committee of the China (Shanghai) Pilot Free Trade Zone]

Pudong New Area in East China's Shanghai is seeing an increasingly flourishing futuristic automobile industry, especially in the manufacturing, research and development of intelligent connected vehicles (ICVs) as well as new energy vehicles (NEVs).

IM Motors, a high-end electric vehicle brand, announced in early September that its first 3000 L7 model cars, which are also known as the "angel investment editions", had been already sold out. Established in Zhangjiang at the end of last year, the company is a joint venture created by SAIC Motor, Pudong government, and Alibaba Group.

Tesla's gigafactory in Shanghai, which is located in the China (Shanghai) Pilot Free Trade Zone, now boasts an annual output of 450,000 cars. Its products have been exported to more than 10 overseas markets including Europe, Japan, and Southeast Asia.

Pudong has been leading in the automobile and integrated circuits sectors with great advantages in terms of talents and industrial chain, which significantly help companies make new products, said Liu Weihong, chief operating officer of an artificial intelligence company Black Sesame Technologies.

Statistics showed that the output of Pudong's NEV industry quadrupled over the first four months of 2021, accounting for more than 80 percent of Shanghai's total. By the end of 2025, the area's output of automobile industry is expected to reach 450 billion yuan ($69.68 billion), making up over 40 percent of Shanghai's total.