Huawei announced a reorganization that granted the head of its consumer business group oversight over the company’s car business operations.
The Chinese EV maker expects production capacity of 50,000 units by the end of H1 2020.
The murder of two passengers has exposed Didi and China’s ride-hailing industry to increased scrutiny.
Luckin apologized to its employees for the upheaval following its fraud admission in early April, and on the same day removed its CEO and COO.
The two recently invested companies are listed on Beijing’s NEEQ, home to many emerging internet and tech stocks.
Hejiabao was positioned to provide financial protection in the event of life-threatening conditions.
NetEase could be restructuring to curtail further losses during the current gaming freeze.