Huawei’s chief executive Ren Zhengfei stated during an event that Huawei invests approximately $3 to $5 billion annually in fundamental theoretical research to strengthen its technological development, according to a Sept. 20 report by Securities Times. Ren emphasized that the world is entering the fourth industrial revolution, with computing power serving as the foundation for […]

Chinese electric vehicle maker Zeekr aims to achieve a $18 billion market valuation before pursuing a $1 billion IPO in the US, a Sept. 19 report by Jiemian said. In February of this year, Zeekr was valued at $13 billion after a Pre-A funding round, according to the report. In August, publicly available information on […]

Alibaba’s AI technology subsidiary has rebranded the home automation device brand Tmall Genie into XGenie, Chinese tech news site IThome reported on September 19. The revamped XGenie integrates services supported by Alibaba’s Tongyi Qianwen large language model (LLM), offering features such as AIGC creation, open-domain dialogues, and TTS emotional expression, among others. On the same […]

Ji Yue, a Chinese electric vehicle brand co-developed by automaker Geely and search engine Baidu said on Tuesday that it will begin delivery of its first production model in October, featuring advanced in-car technology and a starting price of RMB 259,900 ($35,609). The Ji Yue 01 is one of the first models in China equipped […]

Alibaba Pictures, a separately listed subsidiary of Alibaba Group, announced on Tuesday that it will acquire Pony Media Holdings, which operates Damai, a China-based online live events ticketing platform from Alibaba Group. The acquisition, valued at $167 million, has shrunk by 68% compared to when Alibaba Group bought Damai. The e-commerce giant became Damai’s major […]

China’s Chery Automobile, which has a manufacturing partnership with luxury carmaker Jaguar Land Rover (JLR), will enter Thailand with an all-electric model in the first half of 2024, Vice President Xu Qingsong said at the China-ASEAN Expo in the southern city of Nanning on Monday. Xu declared that Thailand is one of Chery’s strategic markets, […]

Zhipu AI, a state-backed startup, has reportedly secured B-4 round fundraising from Tencent and Alibaba among others, according to local tech outlet 36Kr. The latest funding valued the Tsinghua University-incubated startup at $1 billion dollars, nearly double its value at the company’s last funding worth hundreds of millions of yuan led by Meituan earlier this […]

On Tuesday, Chinese cosmetics brand Florasis, through its official Weibo account, expressed feeling “apprehensive and overwhelmed.” This sudden attention stemmed largely from the actions of China’s top beauty influencer, Li Jiaqi, who questioned his viewers about whether those unable to afford the RMB 79 eyebrow pencil might not have worked “hard enough” during a recent […]

Xpeng Motors on Tuesday launched a redesigned version of the G9 with sticker prices significantly lower than last year’s version, in an effort to boost sales of its highest-positioned offering. The sports utility vehicle now costs from RMB 263,900 ($36,160), compared with the RMB 309,900 ($42,464) price tag the car came with last September. The […]