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Li Auto founder says won't make any outbound investments within 12 months after IPO
Li Xiang, founder of Chinese electric vehicle maker Li Auto (NASDAQ: LI) , said on October 26 that his company will not make any financial or outbound investments for 12 months after the IPO and all funds will be used for research and development and talent acquisition priorities.
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Geely cuts EV battery swap time to 90 seconds, what does that mean?
On October 18, Geely Technology Group signed a contract with the local government in Jinan to start the operation of the battery swap station in the city and launch the battery swap station which takes only 90 seconds for a car to complete the process.
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About 7,000 China-made Model 3s to be shipped from Shanghai to Europe on Tuesday
The China-made Model 3 export ceremony was held at Tesla's Shanghai Gigafactory on October 26, and about 7,000 Model 3s will be exported to the European market on Tuesday and are expected to arrive at the Belgian port by the end of next month, according to thepaper.cn.
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ByteDance reportedly eyes Hong Kong IPO for Douyin, the Chinese version of TikTok
ByteDance is considering pushing for a separate listing of Douyin, the Chinese version of TikTok, in Hong Kong, 36kr said, citing sources with knowledge of the matter, adding that a number of investment banks, including Goldman Sachs, have talked to ByteDance about underwriting.
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Foxconn says report of working group formed to tackle Luxshare Precision competition is false
In response to a media report that it has set up a working group to deal with competition from Chinese mainland electronics maker Luxshare Precision, Foxconn has dismissed it as false information.
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Shanghai steps up traffic management, analyst says it's good for Tesla, NIO
Shanghai recently issued new rules to increase restrictions on the passage of vehicles with license plates from other provinces and cities, which, in the opinion of analysts, will facilitate the sale of new energy vehicles such as Tesla and NIO that can obtain local license plates for free.
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Chinese company increases its stake in Opera by 8.47% to become controlling shareholder
Shenzhen-listed Beijing Kunlun Tech Co., Ltd. announced on October 25 that its subsidiary Hong Kong Kunlun will pay cash for an 8.47% stake in Opera at $8.22 per ADS, for a total transaction amount of $80.145 million.
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Tesla says its vehicles recalled in China have no defects
Tesla recently recalled tens of thousands of imported models in China, all for reasons related to vehicle suspensions. However, the company believes that the suspensions of these vehicles are not actually defective.
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China's central bank official says WeChat, Alipay and digital RMB don't compete
WeChat, Alipay and the central bank digital RMB are not in the same dimension and they do not compete, said Mu Changchun, director of the People's Bank of China's Digital Currency Institute, at the forum of the second Bund Financial Summit in Shanghai.
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GAC NIO close to securing Pro-A round of funding, report says
Chinese EV maker GAC NIO is undergoing due diligence for its Pro-A round of financing and is in close contact with a number of local governments, including those of Beijing, Zhejiang and Henan provinces, according to China Times.