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The compensation ordered by the court was smaller than the 60 million yen the family had demanded, but they do not plan to appeal, he added.

The company said it will launch another two SUVs and one sedan by the end of 2021. The sedan, called Maven, will have a range of 800 kilometers on one charge and feature Level 4 autonomous driving functions, said WM.

The company markets its products to wire producers, and the end products are used for home appliances, automobiles and machines.

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The company launched a Level 4 self-driving logistics vehicle at a computing conference in September in Hangzhou, Zhejiang province.

The company's decision follows the series of sudden collapses of bicycle sharing companies recently due to the panic withdrawal of deposits. Beijing-based Coolqi saw a flurry of panic deposit withdrawals in September and was subsequently brought over by Chengdu-based Baike Technology.

The company's trademarked "Farm to Wok" method, however, didn't impress the Chinese.

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The company will conduct outdoor field tests in Hangzhou, Shanghai, Guangzhou, Suzhou and Wuhan, and is going to establish more than 100 5G base stations in each city, said Shang Bing, chairman of China Mobile, at the Mobile World Congress in Barcelona.

The company reported more than 186 million average monthly unique visitors for its mobile apps and websites in the third quarter, up 7 percent year over year. Traffic reached an all-time high of 195 million unique users in July. Total visits spiked 13 percent year-over-year to 1.9 billion.

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The company invested more than 9.4 billion yuan in research and development in 2019, up 4.8 percent from a year ago.

The company's current CEO is Zhang Yong or Daniel Zhang, who took over the post in May 2015, and it is not immediately clear whether the company will appoint a new chairman.