Pandaily's Digest #20220706
Over the years, William Li, the founder of Chinese EV maker NIO, has had a rough ride. Many of the company’s mistakes were attributed to indiscreet and inadequately deep thinking, Li once remarked.
Why NIO’s Founder Has Fallen Off the Radar
When the founders of XPeng and Li Auto, two famed Chinese electric vehicle (EV) startups within a trio that also includes NIO, were busy interacting with each other on social media during a marketing relay for their newest EV lineups in late June, NIO Founder and Chairman William Li kept a low profile.
Unlike XPeng Chairman He Xiaopeng and Li Auto Chairman Li Xiang – both are buoyant influencers on social media – NIO‘s Li has rarely been active on social media throughout recent years, despite the trio’s rise to global prominence in the EV sphere.
BYD Surpasses Tesla to Rank Top in Global EV Sales in H1
Chinese electric vehicle (EV) maker BYD sold 641,400 new energy vehicles in the first half of 2022, up 315% year-on-year, according to the company’s report released on June 3. BYD continues to maintain its leading position in the domestic EV market, and has surpassed Tesla to become the leading EV company by sales.
According to Tesla’s production and delivery report for the second quarter of 2022, the U.S. EV maker delivered 564,000 vehicles globally in the first half of this year, an increase of 46% compared with 386,200 vehicles in the first half of 2021.
Next Phase of P2E Is Play for Fun and Skill to Earn
During the last industry cycle in 2017 and 2018, everyone was exploring the possibility of blockchain games. After the DeFi Summer, the introduction of DeFi attributes and the inspiration of token economic mechanisms made GameFi – represented by Axie – usher in a large-scale outbreak. Play to Earn (P2E) has also become the key to all blockchain games.
Geely May Launch New High-End Smartphone Brand
Xingji Technology, founded by Chinese automaker Geely’s Chairman Eric Li, recently acquired a smartphone brand called Meizu. On July 5, an auto industry blogger revealed that Geely and Meizu will launch an independent new brand in the future while retaining the Meizu brand, which will focus on high-end smartphones priced at 6,000-9,000 yuan ($895 – $1,342).
Sequoia Capital China Completes Fundraising of $9B
According to The Information‘s report on July 4, Sequoia Capital’s China affiliate has raised new funds totaling about $9 billion, to be used for investments in technology and healthcare. The firm received more than $12 billion in a 50% oversubscribed round.
The firm raised the money from pensions, endowment funds and family offices from the United States, Europe, the Middle East and Southeast Asia, Bloomberg reported.
IoT PaaS Provider Dudu Huandian Completes 40 Million Yuan Financing
Dudu Huandian, an IoT PaaS service provider, has recently completed two rounds of financing, totaling 40 million yuan ($5.95 million). Duan Liping led the financing, and Lu Xiaochen from PreIPO Capital followed.
Great Wall Motors Tank 300 SUV Launched in Saudi Arabia
On July 3, Great Wall Motors held a launch event in Riyadh, Saudi Arabia, announcing the launch of its Tank 300 off-road vehicle in Saudi Arabia while also giving a look at the Tank 500. This is the first time that the Tank brand has been made available overseas.
Huawei’s Promise Not to Manufacture Cars to Expire in 2023
The promise that “Huawei will not make cars” is about to expire next year. Back on October 26, 2020, Ren Zhengfei, founder of Huawei, issued a Huawei EMT document saying that the company would not enter the vehicle manufacturing furor and instead focus on ICT technology to help vehicle manufacturers produce better products. However, the document concluded with the line: “This document will take effect from the date of publication and will be valid for 3 years.”
Xiaomi Producing Smartphones in Vietnam
Beijing-based consumer electronics company Xiaomi has started to produce smartphones in Vietnam, Nikkei reported on July 5. With a growing population and economy, Vietnam is expected to see an increase in demand. Xiaomi hopes to establish a foothold in the market to catch up with Samsung, which ranks first in the country’s smartphone sales. Xiaomi products are produced by a company in Thai Nguyen, a northern province of Vietnam. Besides this country, Xiaomi will also export to Southeast Asian markets such as Malaysia and Thailand.
Fast Fashion Giant SHEIN Allegedly Steals Designs
SHEIN, a fast fashion retailer founded in China in 2008, recently fell into a copyright infringement dispute over alleged design theft, the Wall Street Journal reported on July 3.