Pandaily’s Digest #20221024
Balaji Srinivasan, tweeted "Most people don't realize that construction in California isn't 10% slower than the state of the art, but more like 100X slower." Under this tweet, Elon Musk replied,"True"
Tesla CEO Musk Agrees With Investor Srinivasan: California Construction 100X Slower Than China
A Twitter user posted a complaint on October 18 about insufficient construction speed in the Silicon Valley. Balaji Srinivasan, an entrepreneur and angel investor, replied, “This is because regulations promote California from building in the physical world. Hence, the cloud.” He added, “Most people don’t realize that construction in California isn’t 10% slower than the state of the art, but more like 100X slower.” Under this tweet, Tesla CEO Elon Musk replied, “True.”
Why Are German Automakers Like BMW and Volkswagen Increasing Investment in China?
According to a report by The Times on October 14, German auto company BMW Group will stop producing its MINI electric vehicles in Oxford, England, and will instead transfer its production line to China before the end of next year.
Bilibili Launches E-Commerce Livestreaming for Upcoming Double 11 Shopping Festival
Chinese video content platform Bilibili on October 14 officially launched a new online shopping function within the livestreaming part of its homepage, ahead of the country’s popular “Double 11” shopping festival, according to Tech Planet‘s report.
BYD Reaches Production of 2M Photovoltaic Modules in Brazil
Leading Chinese new energy vehicle and battery firm BYD announced on October 21 that its cumulative output of photovoltaic modules in Brazil has exceeded 2 million. The company also previously announced that it will start producing a new type of photovoltaic module in December. This product is an N-type TOPCON photovoltaic module with power of 575W, characterized by high efficiency and durability.
Fosun Terminates Business Engagement With Moody’s Rating Service
Chinese conglomerate Fosun International Limited has stated that it officially notified Moody’s, an American business and financial services company, on October 12 of its decision to terminate business engagement with the rating service, ceasing to provide relevant information on the firm effective from that day.
Former Luckin Coffee Chairman Charles Lu Re-enters Coffee Market
Charles Lu, the former chairman of Luckin Coffee, and Jenny Qian, the firm’s former CEO, officially announced on October 22 that the first location of Cotti Coffee has opened in the eastern Chinese city of Fuzhou, adding that the “team of coffee dreamers is starting the journey again,” National Business Daily reported.
Facing Pressure in China, Tencent Chooses to Increase Overseas Game Business
Faced with the huge uncertainty of the Chinese game industry, the Internet giant Tencent has recently canceled some of its non-core marginal businesses and laid off employees in China while accelerating its investment in the global game industry.
Temu in Position to Take US Online Shopping by Storm
Have a glance at the homepage of Temu, a new US-oriented e-commerce site, and it’s hard not to be floored by the bargains – $10 for a fleece zipper hoodie, $2 for 10 pairs of socks, $13 for a sleek black iOS fitness watch.
NIO to Offer Purchasing Option in Four European Countries from Nov 21
On October 21, Chinese new energy vehicle firm NIO announced that it will offer a purchasing option for its ET7, EL7 and ET5 vehicle models in Germany, the Netherlands, Denmark and Sweden from November 21, to start delivery in early 2023. Information on the NIO app in Europe also shows that the four countries have started delivery for subscription service users.
Alibaba-backed AutoNavi Adapts to Apple’s New Dynamic Island Feature
AutoNavi, a digital map and navigation service provider backed by Alibaba, announced on October 21 that it was the first one in China to adapt to Apple iPhone14 Pro and iPhone14 Pro Max’s Dynamic Island feature, so that users can avoid a series of tedious operations such as frequent unlocking, sliding screen and starting apps during navigation and travel.