Pandaily Digest | Jan 20, 2023
Editor's note: Many staff members of Tesla’s China division denied that Tesla’s production costs of 4680 large cylindrical batteries have dropped by 54%.
Tesla China Denies 54% Drop in Production Costs for 4680 Batteries
News emerged that Tesla’s production of 4680 large cylindrical batteries has achieved a major breakthrough and that costs have dropped by 54%. However, many staff members of Tesla’s China division stated, “At present, there is no related news.” Link
Headlines from China
Microsoft to Cut 10,000 Jobs, Affecting Chinese Division
On January 18, US tech giant Microsoft announced that it would lay off 10,000 workers by the end of this year’s third quarter. The firm’s China division will also be involved. Link
Geely Unveils Plan for Launch of New Cars in 2023
Chinese automaker Geely will launch new cars every month this year, more than 90% of which will be new energy vehicles, with the main goal of increasing the firm’s market share, domestic media outlet Cailian Press reported on January 19. Link
NetEase Expresses Strong Dissatisfaction With Blizzard’s Game Agreement Termination
On January 17, Blizzard China said that it discussed with NetEase to postpone the existing agreement for six months. NetEase did not accept the proposal and responded, “The proposal is inappropriate and inconsistent with business logic.” Link
NIO Veteran Zhou Xin Takes Over Whole Vehicle Engineering
Danilo Teobaldi has stepped down as vice president of automotive engineering for Chinese electric vehicle maker NIO, and Zhou Xin, NIO’s Executive Vice President and Chairman of the Product Committee, will take over the post. Link
News You Shouldn't Miss
Chinese Transport Authorities Deny Link to “Strong Nation Transport” Ride-Hailing App
On January 18, an app that has been described as the first Chinese state-backed transportation platform, “Strong Nation Transport,” unveiled new progress. The Ministry of Transport denies relationships with the app. Link
WeChat Channels, Douyin and Kuaishou to Broadcast CCTV Spring Festival Gala
The annual CCTV Spring Festival Gala in China will be broadcast on WeChat Channels, ByteDance’s Douyin and Kuaishou, among which Douyin may serve as one of the event sponsors, GeekPark reported on January 16. Link
Kuaishou Chairman Reduces Shares for Charity and Cutting-Edge Technology
Su Hua, Chairman of Chinese short video platform Kuaishou, reduced his holdings of 54,713,783 Class B company shares after the trading session on January 18, which will be used for charity, cutting-edge technology, and infrastructure investment. Link
Anta Announces Firm’s Largest Personnel Adjustment Ever
Chinese athletic wear firm Anta Sports announced on January 18 its largest personnel adjustment since listing publicly 16 years ago. The moves have seen Ding Shizhong step down as CEO while remaining as chairman of the board of directors. Link
Photovoltaic Silicon Wafer Giant TCL Zhonghuan Acquires Chinese Chip Startup
TCL Zhonghuan, a leading Chinese photovoltaic silicon wafers firm, announced on January 19 that its subsidiary plans to acquire 100% equity of Xinxin Semiconductor by means of new registered capital. Link
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