Pandaily’s Digest #20221021
Li-Ning, a Chinese sports brand that has always claimed to have stuck to consumer-focused core values, has recently caused controversy over some products similar to Japanese military uniforms.
Chinese Sportswear Brand Li-Ning Apologizes for Controversial Design
Li-Ning, a Chinese sports brand that has always claimed to have stuck to consumer-focused core values, has recently caused controversy over some products that are similar to Japanese military uniforms. The resulting backlash caused the company’s share price to plummet.
BYD’s New Patent Allows Steering Wheel to Control In-Car Gaming
On October 18, a patent named “Graphical User Interface for Game Operation Settings on Screen Panels” applied by BYD was authorized and made public.
Zeiss Builds First Factory in China With $25M Investment
Zeiss, a leading enterprise in the fields of optics and optoelectronics, on October 18 started construction of a new R&D and production base in Suzhou, Jiangsu Province, China. This is the first time that Zeiss has purchased land and built its own project in the country, indicating the firm’s further deepening of business in the region.
Envision AESC to Build New US Factory for BMW Battery Supply
On October 19, BMW and Envision AESC, a battery tech firm under Envision Group, reached a long-term cooperation agreement. Under the deal, Envision AESC will provide its next generation of lithium-ion batteries for BMW’s new vehicle models from 2026, which will be produced at the Spartanburg factory in the US.
Traditional Automakers Like BYD and Geely Propel Plug-In Hybrid Field
In recent years, traditional Chinese car enterprises such as Great Wall Motor, BYD, and Geely have made persistent efforts in the field of plug-in hybrid vehicles, opening up new space for the further development of NEVs. Plug-in hybrids effectively solve the cruising range problem and are expected to eventually replace fuel-based vehicles.
BYD and Santander to Launch Auto Finance Solutions in Brazil
Chinese new energy vehicle and battery giant BYD formally reached a strategic cooperation agreement on October 18 with the Brazilian division of Santander, a leader in the domestic auto finance industry. BYD officially entered Brazil in 2021 and launched its first pure electric vehicle for the local market this year.
Xiaomi Founder Lei Jun: Auto Unit Needs to Reach Top Five
Xiaomi founder Lei Jun shared his thoughts on the global electric vehicle industry on October 19, writing on Twitter that the top five brands will hold more than an 80% combined market share when the industry reaches maturity. Thus, the entrepreneur wrote, the only way for Xiaomi to succeed is to be among the top five leading brands, shipping more than 10 million cars annually.
Xiaomi Auto Reportedly to Obtain Vehicle Production Qualification Mid Next Year
Xiaomi Auto’s factory is expected to obtain an automobile production qualification from June to July 2023, a big move for the company’s mass-production plans, according to a new energy vehicle research institute on October 19.
BMW Invests a Further 10B Yuan in Chinese Battery Facility
Insiders at BMW China revealed to Chinese media on October 18 that the German automaker will invest another 10 billion yuan ($1.38 billion) to expand its high-voltage battery production center in China’s northeastern city of Shenyang, and that it will generally increase investment in battery projects in the country. It is reported that the facility serves as the third complete power battery center of BMW Group in the world and the first outside Germany.
Fast Fashion Retailer SHEIN Unveils Official Resale Platform SHEIN Exchange
SHEIN, an online retailer of fashion and beauty products, on October 17 announced the launch of SHEIN Exchange, an integrated online peer-to-peer resale destination to buy and sell previously owned products bought on the site.