Pandaily's Digest #20211208
A subsidiary of EV firm NIO fined for misleading consumers, short video platform Kuaishou rumored to lay off 30% of staff in near future, Pony.ai's truck brand completes landmark test, and more.
NIO Subsidiary Fined $31,363 for Misleading Consumers
The Auto Sales & Service Co. subsidiary of Chinese electric vehicle maker NIO, was fined 200,000 yuan ($31,363) by the Haidian District Market Supervision Administration of Beijing for violating the Anti-Unfair Competition Law.
Kuaishou Rumored to Lay Off 30% of Employees in Near Future
According to some users on Chinese professional networking site Maimai, popular domestic video-sharing platform Kuaishou will lay off 30% of its employees in the near future, while staff cutbacks in its international business have already started.
PonyTron Completes China’s First Test of High-Level Autonomous Trucks on Open Highways
Pony.ai announced on Monday that its truck brand PonyTron has successfully completed automated driving of trucks on the Beijing–Taipei Expressway on December 5, and has now kicked off the normal automated driving test. This is the first time that an automated driving enterprise has conducted high-level automated driving tests on open highways in line with policies in China.
China’s 2021 Vehicle Output to Drop by 2.15 Million Due to Chip Shortage, Accounting for 19% of Global Reduction
Automotive News reported on Monday that according to the latest data from AutoForecast Solutions (AFS), as of December 5, the ongoing shortage of chips has caused a cumulative reduction of 10.122 million vehicles in the global automotive market, among which the cumulative output reduction in China reached 1.982 million vehicles, accounting for 19.6% of the total output reduction.
China VC Weekly: 3D Printing, Cloud Gaming and Mandarin Learning
In last week’s VC news, China’s largest 3D printing service provider Wenext raises $55 million in a Series B round, cloud-gaming platform Well-link completes $62.78 million in its own Series B round, EV company WM Motor closes yet another hefty financing round, and more.
Ford Confirms CATL and BYD As Battery Suppliers
At a recent investor conference, Lisa Drake, Chief Operating Officer of Ford Motor, said that Ford will maintain its cooperation with five battery suppliers, including Contemporary Amperex Technology Co., Limited (CATL), BYD, SK, LG Energy Solution and Panasonic.
China Launches Five Satellites Aboard CERES-1 Y2 Commercial Rocket
China launched its CERES-1 Y2 carrier rocket designed for commercial use from the Jiuquan Satellite Launch Center in northwest China Tuesday. The rocket lifted off at 12:12 p.m., carrying five small satellites that successfully entered the preset orbit, including Tianjin University-1, Lize-1, Baoshui, Golden Bauhinia-5, and Golden Bauhinia-1-03.
OPPO Announces Retractable Lens, to Launch First Self-Developed Chip on INNO Day
OPPO announced on Wednesday that its first self-developed chip will be revealed during the company’s INNO Day. The chip will be an independent NPU (Neural Processor) based on TSMC’s 6nm manufacturing process, 36Kr reported on Wednesday.
China’s Annual Parcels and Express Volume Exceeds 100 Billion, Average Daily Service Registers Nearly 700 Million
On Wednesday, real-time monitoring data of parcels and express packages handled by China’s State Post Bureau showed that delivery volume in China reached 100 billion units in 2021, the first time it has ever done so.
Tencent Games Launches New Brand Level Infinite
On Tuesday, Tencent Games announced the launch of its new distribution brand, Level Infinite. The company touts the new brand as “dedicated to providing high-quality games to users all over the world.”