Pandaily's Digest #20220822
Geely to Acquire TuSimple’s Asia-Pacific Business
Chinese automotive maker Geely plans to buy the entire stake of autonomous driving company TuSimple’s Asia-Pacific business. The Zhejiang-based firm has made an offer to TuSimple’s headquarters in the United States, but details such as the purchase price have not been released, Chinese media outlet AI4Auto reported on August 20.
TikTok Sister App Douyin Reaches Cooperation with Food Delivery Platform Ele.me
On August 19, Ele.me, a food delivery platform, and ByteDance’s Douyin, jointly announced a cooperation deal. The two sides will work together to explore offerings of local life services while helping to connect merchants and consumers through high-quality content, a wide selection of products and services, and an efficient logistics network.
Pinduoduo to Build Cross-border E-commerce Platform, Poaches SHEIN Employees
Chinese e-commerce platform Pinduoduo is preparing a cross-border e-commerce app, expected to be released initially for the US market in mid-September, LatePost reported earlier. On August 18, another media outlet, Jiemian News, obtained a cross-border platform investment pamphlet from insiders in Pinduoduo, which confirmed previous reports.
Over $700M in Xiaomi Funds Unblocked by Indian Authorities
On August 19, Beijing-based Xiaomi announced its Q2 and H1 results for this year. In an earnings call, Xiaomi Group President Wang Xiang responded to the Indian tax investigation fiasco. He said that more than $700 million of funds were released, and that the company was actively communicating with the Indian authorities in a frank manner, while appealing by judicial means.
All BYD New Energy Vehicles Now Equipped With Blade Batteries
Shenzhen-based auto firm BYD announced on August 19 that all of its new energy passenger cars are now equipped with blade batteries.
China to Establish Carbon Emissions Accounting System in 2023
The timetable for the construction of China’s carbon emissions statistical accounting system has now been made clear. On August 19, the Chinese National Development and Reform Commission, the National Bureau of Statistics and the Ministry of Ecology and Environment jointly issued an implementation plan for boosting the establishment of a unified and standardized carbon emissions statistical accounting system.
Medical Crowdfunding Platform Waterdrop Responds to Reports of 70% Fees
Regarding reports that “the crowdfunding intermediary fee deducted by Shuidichou reaches as high as 70%,” Chinese medical treatment crowdfunding platform Shuidichou responded on August 21 that the so-called intermediaries were operated by some malicious third-party commercial organizations engaged in improper fundraising services. Shuidichou said that it resolutely resists such behavior and will crack down on actions that do harm to its users and the company.
Game Analytics Firm Thinking Data Bags 100M Yuan in Round-C+ Financing
Thinking Data, a provider of big data analysis services for the game industry, announced on August 22 that it has completed a C+ financing round worth 100 million yuan ($14.65 million), featuring investment from GGV Capital. This was its third financing round in two years, with a total amount of nearly 600 million yuan ($87.93 million).
Safeheron Announces $7M in Pre-A Funds and Cooperation With MetaMask
Safeheron, an open-source, zero-trust, self-custody solution for Web3 small and medium enterprises (SMEs), on August 19 announced that it has obtained $7 million in pre-A funding, and that its strategic partnership with crypto wallet MetaMask will integrate enterprise-grade Multi-Party Computation (MPC) multisignature security solutions through devices and applications.
NIO ET7 Sets Sail for Europe
On August 22, Chinese new energy vehicle company NIO announced that its ET7 – the brand’s first smart electric flagship sedan – has set sail from a local port bound for Europe. The ET7s will be available for order and delivery this year in Norway, Germany, the Netherlands, Denmark and Sweden.