Xpeng’s newly appointed CEO assistant Li Pengcheng stepped down as the EV maker continues to adjust its structure. The automaker has seen poor car sales in the last several months and faced heated criticism on pricing and specs after launching its first premium crossover model, G9, in September. Wang Tong, a vice president at Xpeng […]
Chinese short video app Kuaishou once again adjusted its organizational structure on Tuesday, with the former head of product development Wang Jianwei replacing Liu Feng, who had served as head of the commercial department for less than three months. Yu Yue, leader of the community science section, will also now be in charge of the […]
Meituan has completed an internal restructure, separating its ride-hailing and robot delivery businesses into two stand-alone units, LatePost reported Monday, citing unnamed sources. The restructure came as Meituan goes after Didi’s market share as Didi mires in a cybersecurity review that began in July. In October, Meituan provided around 1 million trips every day, only one-fifth of its rival Alibaba’s Amap, the report said. [LatePost, in Chinese]
Yan Qiang, Kuaishou’s senior vice president who led the short video apps’ early commercialization efforts, will leave the company due to “personal reasons” on October 24, according to an internal letter made public on Tuesday. Wang Jianwei, the firm’s head of product, will assume Yan’s role. The Douyin rival also announced organizational restructures, streamlining operations by merging departments into four major business groups: e-commerce, commercialization, globalization, and gaming. [Jiemian, in Chinese]
Nio delivered 3,667 vehicles in October, its lowest-ever monthly delivery number since last August and a 65% plunge from September. The company said it significantly scaled back its production during the first half of last month to restructure production lines and prepare for new vehicle model deliveries. Nio’s competitors Xpeng and Li Auto delivered 10,138 and 7,649 vehicles in October, respectively. [Nio statement]
Alibaba announced on Monday that deputy chief financial officer Toby Xu to replace Maggie Wu as the company’s chief financial officer next April. Separately, the company said it will create two new units for domestic e-commerce business and international e-commerce business. Trudy Dai will lead the domestic unit, and Jiang Fan will head the global one. The Chinese e-commerce giant overhauls its business structure at a time of increasing regulatory pressure and rising competition. [Reuters]
Xpeng Motors plans to do a major reorganization by setting up five new committees and three cross-functional teams for different vehicle platforms as the Chinese auto company aims to encourage collaboration and boost efficiency. The move comes amid a slowdown in car sales and a decline in Xpeng’s share price. Chief executive He Xiaopeng will […]
Huawei announced a reorganization that granted the head of its consumer business group oversight over the company’s car business operations.
The funding boost could help the cash-strapped Nio accelerate into the fast lane.
ByteDance-owned short video platform TikTok is reportedly restructuring its business, with layoffs expected, according to a Wired report on Monday, citing five employees at the firm. TikTok’s business in the US, Europe, and the UK are all affected, as the firm has put expansion plans on hold. An employee told Wired that less than 100 […]