Pandaily Digest | Dec 28, 2022
Editor's note: Tesla’s China chief Tom Zhu stepped down as legal representative of Tesla (Shanghai). Chinese media outlet PingWest shows that Zhu is fading out of Tesla’s business in China.
Tom Zhu Steps Down As Legal Representative of Tesla China Subsidiary
Tesla’s China chief Tom Zhu stepped down as legal representative of Tesla (Shanghai) Co., Ltd., but will remain its chairman, according to updated information on Chinese business inquiry platforms. Wang Hao, the general manager of Tesla China in charge of sales, has taken over as the legal representative. Link
Headlines from China
China to Drop COVID-19 Cross-Border Travel Restrictions
China’s National Health Commission announced in a statement on December 26 that the country will now approach its management of COVID-19 as a Class-B infectious disease. Mandatory testing and quarantine for international arrivals will be canceled and Chinese citizens’ outbound tourism will be resumed in an orderly manner. Link
A Glimpse of the Battery Businesses of BYD, SAIC and GAC Motor
In order to solve the problem of high battery costs and improve profit margins, many Chinese car companies have begun to directly enter the battery supply chain in various ways. Automakers such as Geely and NIO, for example, have set up their own battery subsidiaries in the hope of reducing costs. Link
ByteDance’s TikTok Appoints New Division Head Transferred From Toutiao
The e-commerce arm of ByteDance-owned TikTok will see Kevin Chen, the current the head of news aggregator Toutiao, lead its product and data science division, according to a report by LatePost on December 28. Link
NIO Lowers Q4 Delivery Forecast
Chinese electric vehicle maker NIO announced on December 27 that due to skyrocketing COVID-19 cases across the country, causing supply chain restrictions and interfering with new user registration, the company now estimates that 38,500 to 39,500 vehicles will be delivered the fourth quarter of this year. Link
News You Shouldn’t Miss
Xiaomi Sub-Brand Redmi’s K60 Smartphone Series Launched in China
Xiaomi sub-brand Redmi launched its new Redmi K60 smartphone series in China on December 27. The new lineup includes the Redmi K60, Redmi K60 Pro, and Redmi K60E. A “Speed Edition” for the Note 12 Pro has also been launched. The unveiling also saw the arrival of three smart wearable devices. Link
Chinese GPU Firm Moore Threads Bags B Round of Financing Over $215M
Moore Threads, a Beijing-based GPU company, announced on December 27 that it had received a B Round of financing worth 1.5 billion yuan ($215.5 million). Link
NetEase Cloud Music and Kuaishou Music Reach Cooperation
On December 27, NetEase Cloud Music announced that it had reached a framework for cooperation with Kuaishou Music in the fields of copyright, song promotion and musician co-development. Link
Bilibili’s “The Three-Body Problem” Animated Series Gets 5.6 Points on Douban
An animated series based on Liu Cixin’s sci-fi trilogy “The Three-Body Problem” has been available on Chinese video streaming platform Bilibili since December 10. However, the score of the show on Chinese social media and review site Douban is now only 5.6, with 15.2% of the audience giving a five-star evaluation. Link
Chinese Influencer Li Ziqi Reaches Settlement With Partner Firm
Prominent Chinese video-based influencer Li Ziqi reached a court settlement on December 27 with her multi-channel network (MCN) partner company, Weinian Brand Management Co., Ltd., although both parties refrained from providing further details. Link
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