Pandaily's Digest #20210911
Xiaomi Auto to debut first models in 2024, Tesla's new delivery center in Beijing, Alibaba-backed Megvii's 6 billion yuan Shanghai IPO, Vivo's global launch of X70, China's gaming crackdown, and more.
Xiaomi Auto Plans to Launch First Models in 2024 and Sell 900,000 Vehicles in Three Years
Several sources have informed Chinese domestic media outlet 36Kr that Xiaomi Auto plans to debut its first models in the first half of 2024. One source says that Xiaomi Auto intends to release a new car each year for the next three years after the initial model is launched in 2024, and expects to sell 900,000 vehicles in the three years that follow. Xiaomi has so far declined to offer any official comments.
Tesla Opens New Delivery Center in Beijing With Over 100 Delivery Spaces, Its Largest in Asia
On the eighth anniversary of its entry into the Chinese market, Tesla opened a new delivery center in Beijing, covering about 12,000 square meters. With over 100 indoor delivery spaces, the company said the facility is its single largest in Asia.
Alibaba-Backed AI Startup Megvii Receives Go-Ahead for 6 Billion Yuan Shanghai IPO
An official announcement issued by the Shanghai Stock Exchange on Thursday showed that the initial listing of AI firm Megvii Technology on the Science and Technology Innovation Board has been approved.
How Buffet-Backed BYD is Changing Public Transport, One Electric Bus at a Time
Whether internationally recognized or not, however, the company is already the world’s largest producer of electric buses and is quietly beginning to transform urban transportation across the world.
Chinese Smartphone Maker Vivo Announces Global Launch of X70 Series
Chinese smartphone maker Vivo on Friday officially debuted its X70 series of professional photography flagship smartphones, starting in several markets around the world. The X70 series – consisting of the X70, X70 Pro and X70 Pro+ – marks the next chapter in Vivo’s partnership with ZEISS.
NetEase Founder Denies Rumors that China Will Suspend Approval of New Online Games
Rumors about a possible “delay in new game licences” in China went viral on Thursday. Various media outlets including South China Morning Post reported that Chinese regulators intended to slow their approval of new online games, following the recent introduction of stringent new rules on the industry.
Turning Their Backs on Factories, China’s Small-Town Youths Make a Living on the Internet
With factory workers who once formed China’s economic backbone aging and their children shifting from traditional sectors to the booming Internet industry, economists and policymakers have taken steps to address the change in an effort to maintain manufacturing as a major engine of the country’s growth. Their solutions – automation and vocational education – may reshape the next generation of Chinese youths and the way the world’s second-largest economy functions.
Tesla China Sold Over 40,000 Domestically Produced Vehicles in August, May Launch EV Worth $25,000 in 2023
According to data released by the China Passenger Car Association on Wednesday, Tesla’s sales reached 44,264 domestically produced units in August, up 275% year-on-year. As of August, Tesla has sold more than 250,000 vehicles in 2021, of which domestic sales alone have reached 152,531 units, exceeding the overall sales volume last year.
Chinese Gaming Companies Disclose Proportion of Income from Minors for First Time
At the end of last month, Chinese regulatory authorities issued a notice calling for the strengthening of measures to prevent minors from spending too much time playing games. Many Chinese gaming companies have responded quickly.
Chinese Authorities Summon Gaming Firms Including Tencent and NetEase
On Wednesday, Chinese market regulators summoned Tencent, NetEase and other key online game companies, account rental and sales platforms and livestreaming platforms.