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Xiaomi EV expects to begin mass production in the first half of 2024: Lei Jun

Oct 19, 2021
Xiaomi is targeting the first half of 2024 to mass produce its first electric vehicle, CEO Lei Jun reportedly said on Tuesday at its annual investor meeting. The company announced an electric vehicle subsidiary in March. Lei said the project is progressing ahead of schedule. Xiaomi shares rose more than 4.68% to HK$22.35 in Tuesday’s morning session. [The Paper, in Chinese]

Alibaba launches Shein-like fashion site for overseas shoppers

Oct 19, 2021
Chinese e-commerce giant Alibaba recently rolled out allyLikes, a fast-fashion online retailer similar to Shein. The site mainly targets North American and European shoppers. allyLikes is part of Alibaba’s efforts to expand its presence outside China in addition to cross-border shopping site AliExpress and Southeast Asian online retailer Lazada. [SCMP]

Kuaishou partners with NBA on short videos

Oct 19, 2021
Chinese short video platform Kuaishou has signed a multi-year strategic partnership with NBA China, according to a Monday announcement. The Douyin rival will become the league’s “official short video platform,” helping it recreate short videos from games and other content. The partnership also includes livestream shopping and offline events. [21st Century Business Herald, in Chinese]

JD Logistics invests $160 million to hit ambitious sustainability goals

Oct 18, 2021
JD Logistics announced today that it will invest RMB 1 billion ($160 million) in green supply chain projects. The company expects to increase its carbon efficiency by 35% within the coming five years. The company aims to cut half of its 2019 total carbon emissions level by 2030. JD Logistics plans to achieve the goal by using more recyclable packages and adopting innovative digital technologies. [JD Logistics press release, in Chinese]

Li Auto builds a new plant in Beijing

Oct 18, 2021
Li Auto has officially started building a new production facility in the outskirt of Beijing, expected to start production by the end of 2023, Chinese media reported Saturday. The new facility is built on the base of an old production facility owned by Korean automaker Hyundai. The Chinese EV maker unveiled its first manufacturing site in the eastern city of Changzhou in April 2019. The new plant will reportedly cost more than RMB 6 billion ($930 million) and double Li Auto’s annual production capacity to 200,000 vehicles. [Beijing Daily, in Chinese]
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