Although Chinese social media conglomerate ByteDance has not yet pursued a public listing, one of its subsidiaries is racing toward an IPO. ByteDance, the highest valued private company globally with a conservative estimate of its valuation at US225 billion, is seeking financing for its automotive information and trading platform, Dongchedi (also named DCar), in preparation… Continue reading ByteDance Prepares Subsidiary Dongchedi for IPO With a Valuation of $3 Billion, Potentially the First Public Listing for TikTok Parent
Author: China Money Network Online News
Chinese Leader Xi Jinping Visits Europe Amid Trade Tensions Over Chinese EVs; BYD and Other Chinese EV Exports Projected to Increase by 50% in 2024
Chinese President Xi Jinping embarks on his first European tour in five years, with discussions on Chinese electric vehicle exports a critical topic. The European Union is probing Chinese electric cars for potential anti-subsidy measures, threatening punitive tariffs if subsidies are detected. Simultaneously, China’s vehicle exports are projected to surge this year, buoyed by robust… Continue reading Chinese Leader Xi Jinping Visits Europe Amid Trade Tensions Over Chinese EVs; BYD and Other Chinese EV Exports Projected to Increase by 50% in 2024
Huawei HIMA’s Luxeed S7 Electric Vehicle Reintroduced Following Production Challenges, Sparks Rivalry with Xiaomi SU7
Huawei’s Harmony Intelligent Mobility Alliance (HIMA) reintroduced its Luxeed S7 electric vehicle today, following a string of production hurdles that plagued the vehicle’s initial debut. HIMA, spearheaded by Huawei, stands as a pivotal player in the electric vehicle (EV) market. The revamped Luxeed S7 is now available at a price range of U$34,516 to US$48,333,… Continue reading Huawei HIMA’s Luxeed S7 Electric Vehicle Reintroduced Following Production Challenges, Sparks Rivalry with Xiaomi SU7
Xiaomi’s SU7 Electric Vehicle Faces Challenges of Prolonged Delivery Times, Production Hell and Loss-Making Sales
Xiaomi’s SU7 smart electric car has garnered significant attention from consumers, with a strong initial week of orders. However, challenges have emerged, including extended delivery times, quality concerns, and complaints about the interior decor. If previous consumer frenzies over particular products are indicative, the spotlight on the SU7 could swiftly turn unfavorably for Xiaomi. Regardless,… Continue reading Xiaomi’s SU7 Electric Vehicle Faces Challenges of Prolonged Delivery Times, Production Hell and Loss-Making Sales
China’s Tech Giants Lead Among 546 Registered AI Algorithms; Industry-Specific Algorithms Are More Popular in China
Since June 2023, authorities in China have registered 546 generative artificial intelligence algorithms. As the pace of registration accelerates, the breadth of their applications is also expanding. However, the overall capabilities of general purpose large-scale AI models in China still lag behind American leaders such as OpenAI and Anthropic. There have been four batches of… Continue reading China’s Tech Giants Lead Among 546 Registered AI Algorithms; Industry-Specific Algorithms Are More Popular in China
China’s Integrated Circuits Imports and Exports Decline, Reflecting Sluggish Market and Growing Domestic Capabilities
China’s General Administration of Customs has released new data revealing a decline in both the quantity and value of China’s integrated circuits imports and exports for the full year of 2023. This decline is attributed to global economic headwinds, the ban on the sale of high-end AI chips to China, and the nation’s advancements in… Continue reading China’s Integrated Circuits Imports and Exports Decline, Reflecting Sluggish Market and Growing Domestic Capabilities
Huawei Aims for Better Results in Collaboration with Changan Auto Amidst Evolving Smart Car Endeavors
Today, at an event in Chongqing, Chairman of Changan Automobile Zhu Huarong revealed details about a joint venture established with Huawei last November. The joint venture between Changan and Huawei, provisionally named ‘Newcool’, will focus on seven key business areas. These include intelligent driving, intelligent cockpit, intelligent car digital platform, intelligent car cloud, and intelligent… Continue reading Huawei Aims for Better Results in Collaboration with Changan Auto Amidst Evolving Smart Car Endeavors
SenseTime Overcomes Founder’s Sudden Passing, Poised for Growth in Generative AI Sector
After the unexpected passing of its founder two weeks ago, Chinese AI company SenseTime Group Inc. (00020.HK) seems to have steadied itself amid the initial turmoil, with its shares recovering some lost ground. Investors are now reevaluating the firm’s stability and future prospects in the evolving AI landscape. On December 17, 2023, SenseTime announced that… Continue reading SenseTime Overcomes Founder’s Sudden Passing, Poised for Growth in Generative AI Sector
Geely to Launch 11 Satellites in Early 2024, Aiming for a 72-Satellite Network by 2025
Following the launch of nine satellites last June, Geely’s space unit said it plans to launch another group two of 11 satellites in early 2024 to improve the Chinese car maker’s integrated terrestrial and space smart travel ecosystem. The Geely Galaxy E8, which will be launched in January next year, will be equipped with the… Continue reading Geely to Launch 11 Satellites in Early 2024, Aiming for a 72-Satellite Network by 2025
China Tech Giants’ Pivot: Retreats from Metaverse, Autonomous Driving, Chip Development, and Beyond
Reflecting on 2023, a key theme for the Chinese technology industry has been strategic retreats from various once-popular sectors, with a sharp focus on financial performance. Amid challenging macroeconomic conditions and heightened competition in an already saturated market, tech giants like Tencent, ByteDance, Alibaba, and Baidu have shifted from an “expansion-first” approach to prioritizing “survival.”… Continue reading China Tech Giants’ Pivot: Retreats from Metaverse, Autonomous Driving, Chip Development, and Beyond