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 Alibaba restructuring involved fintech affiliate Ant Financial, online travel platform Fliggy, retail, and entertainment units.
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.
At SWITCH, TechNode and TechNode Global spotlighted the faces that make up the Chinese tech innovation ecosystem.