Pandaily's Digest #20220916
On the evening of September 14, a rumor that the Inflation Reduction Act recently passed by the United States government will ban Chinese batteries after 2024 spread wildly on Chinese social media.
BYD’s Board Secretary Responds to Rumored US Ban on Chinese Batteries
On the evening of September 14, a rumor that the Inflation Reduction Act recently passed by the United States government will ban Chinese batteries after 2024 spread wildly on Chinese social media. The potential policy was then repudiated by the Secretary of the Board of BYD, a Shenzhen-based electric vehicle and battery giant.
NETA Auto Starts Delivery in Nepal
NETA Auto, a vehicle marque under Chinese firm Hozon Auto, announced on September 15 that its global expansion has accelerated in the past few days. The firm’s NETA V right-hand drive model has now been launched in Nepal and delivered in batches, becoming the first new Chinese carmaker to enter the Nepalese market. On August 25, the vehicle model arrived in Thailand, while the brand’s first direct-sales store in the country opened at the beginning of this month.
Tencent Invests in Overseas Education Startups After China’s Regulatory Tightening
One year since Chinese authorities introduced the “Double Reduction” policy, which implemented tight restrictions on tutoring services, investment in the country’s private education industry has sharply declined. However, according to information released on September 15 by investment database ITjuzi, Tencent has continued to invest in education startups in Nigeria, Austria and other overseas markets this year.
China’s Smart Car Sector Now Ahead of Europe and US, Haomo Chairman Says
China’s intelligent vehicle market is significantly ahead of Europe and the United States, said Zhang Kai, the chairman of Beijing-based autonomous driving company Haomo.AI Technology Co., Ltd., at the company’s sixth AI Day event held on September 13.
Ant Group Buys Land in Shanghai, Eyes Restart of IPO
The official website of the Shanghai Land Exchange Market showed on September 1 that Yuyuan Inc., which is owned by Chinese conglomerate Fosun, and Alibaba‘s financial services arm Ant Group, have won the rights to a plot of land called “Fuyou” in Shanghai’s Huangpu District. Analysts have suggested that the move may indicate Alibaba is accelerating its split with Ant Group, so as to promote the latter’s restart of an IPO bid.
iPhone 14 Series Opens for Sale, Scalper Prices Soar in China
There is typically a rush to buy iPhones whenever a new series goes on sale, and this year is no exception. The iPhone 14 series, which was originally scheduled to open for sale on September 16, had already emerged on dealer and scalper channels in China on September 15, for prices higher by two or even three thousand yuan. Many scalpers were trying to buy the new devices from consumers at a high price on September 16.
Sunwoda EVB and Partners to Invest $1.71B in Joint Battery Project
The electric vehicle battery subsidiary of Shenzhen-based Sunwoda will jointly invest about 12 billion yuan ($1.71 billion) alongside three other parties to build a 30GWh battery production base, according to an announcement on September 15.
Miniso Calls Blue Orca Capital’s Short-Selling Report Groundless
Global technology-based retail firm Miniso announced on September 15 the results of an independent investigation into a highly critical report released in late July by Blue Orca Capital. Miniso asserted that allegations made in the report have no factual basis.
World’s First DJI-Powered 2023 KiWi EV Launched
On September 15, Chinese automobile marque Baojun, a joint venture under SAIC-GM-Wuling, launched the 2023 KiWi EV, offering three configuration options, with a listing price ranging from 87,800 yuan to 102,800 yuan ($12,525 – $14,664). Baojun’s KiWi EV is an annually updated mini electric vehicle model. This year, the new version continues the design style of past models, mainly bringing upgrades to the configuration.
DJI Launches Osmo Action 3 Sports Camera
Shenzhen-based camera and drone firm DJI released its new Osmo Action 3 sports camera on September 14, which adopts a unique quick-release design and starts from 2,299 yuan ($330) in China. This product is also available in many other countries around the world.