Pandaily’s Digest #20220323
On Tuesday, Bomin Electronics announced that its wholly-owned subsidiary had been selected to be the designated developer for XPeng Motors.
XPeng Motors’ New Model Leaked
On Tuesday, Bomin Electronics announced that its wholly-owned subsidiary had been selected to be the designated developer for XPeng Motors, and would serve as the supplier of parts and components for XPeng’s F30 and E38 models.
Pinduoduo Posts 59% Gain in 2021 Orders, States Long-term Goal to Drive Agri Digital Inclusion
Pinduoduo, China’s largest agriculture platform, said it will step up its efforts in promoting digital inclusion and continue to focus on research and development, as the company records a 59% gain in annual orders.
Tesla China Forbids Customers to Resell Vehicles Within a Year
Tesla China has recently asked local consumers to sign a “letter of commitment not to resell their cars,” igniting heated discussion among domestic web users. The letter pointed out that car owners who place orders for multiple Tesla vehicles need to sign a commitment letter, promising not to resell them to third parties within one year. Those who violate the rule have to pay liquidated damages at 20% of the vehicle’s invoice price. Otherwise, Tesla will assert its right to restrict changes of bound accounts for corresponding vehicles and services, such as super-charging.
JD.com Group-Buying Arm Reportedly Plans to Lay Off 10-15% of Staff
Jingxi, the community and discount purchasing arm of Chinese e-commerce giant JD.com, is reportedly planning to lay off 10-15% of its staff members, according to a Monday report by Sina Tech.
Scores on Debut: Guanyu Zhou’s Making History
Around fifteen years ago, I had a bet with a middle school friend: “which event will happen first, China‘s first goal in the World Cup, or a Chinese racing driver’s first points-paying position in Formula One.” The mystery was resolved on March 20. Guanyu Zhou, China’s first ever full-time F1 racing driver, finished his debut in 10th place, thereby winning one point.
China VC Weekly: Xiaomi’s Investment Spree
In last week’s VC news, Xiaomi completed at least two considerable investments in AI and robotic tech, smart projector upstart JMGO bagged $157 million in its latest funding round and more.
OPPO Launches World’s First 3D Ray Tracing Dynamic Wallpaper
Chinese smartphone brand OPPO launched a 3D dynamic real-time interactive wallpaper at this year’s Game Developers Conference (GDC 2022) on Tuesday. The product is the first to realize ray tracing technology on smartphones, and is expected to be launched to app stores in the second half of 2022. In addition, its development tool will be released on OPPO’s open platform, supporting developers, artists and designers to create freely.
China Puts Forward Modern Energy System Plan During 14th Five-Year Plan Period
China’s National Development and Reform Commission issued an announcement on Tuesday, putting forward the main objectives of constructing a modern energy system during its “14th Five-Year Plan” Period.
Xiaomi Opens Delivery Service on Meituan
William Lu, partner of Xiaomi and general manager of the Redmi brand, made a post on Weibo on Tuesday asking netizens to try something new: “Search Mi Home on Meituan, and new products will be delivered in half an hour at the fastest!” This Weibo post has been regarded by the industry as the official announcement of the cooperation between Xiaomi and Meituan.
Alibaba Enlarges Share Repurchase Plan, Appoints New Independent Director to Board
Alibaba Group announced Tuesday that the company’s board has authorized the raising of its share repurchase program to $25 billion from the previous level of $15 billion. In addition, Weijian Shan, executive chairman of investment group PAG, has been appointed as an independent director to the company’s board.