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.
Huawei is actively opening up new business lines as the impact from US trade sanctions and backlash takes its toll.
The restructuring is the search giant’s latest move to ramp up business amid challenges from emerging domestic rivals.
Alibaba looks to shore up growth for its core e-commerce business.
Alibaba restructures its local services to better compete with Meituan. Nayuki Tea and Dingdong Maicai go public.
Ant has agreed to restructure, putting all business units into a financial holding firm, including technology operations that do not relate to fintech.
The Chinese EV maker expects production capacity of 50,000 units by the end of H1 2020.
The downsizing follows a round of restructuring earlier this year, as Netease seeks to increase its focus on its two main businesses — e-commerce and gaming.
The fintech giants’ licensed online-only banks will be the first of their kind to take part in China’s digital yuan trials.