The latest figures reflect a slowdown of China’s EV market as consumer confidence is hit by fears of a potential recession and automakers cut production due to Covid.
Evergrande’s EV unit pauses mass production and lays off 10% of staff: reports
The EV unit of Chinese property developer Evergrande – Evergrande New Energy Auto – has paused mass production due to a lack of orders, Reuters reported on Friday. The unit is also laying off around 10% of its staff, a person involved in the business told Chinese media outlet Securities Daily on Friday. The source […]
Lilith, HoYoverse, and Tencent-affiliated games awarded by Google
Google revealed the winners of Google Play’s best apps and games of 2022 on Wednesday, including three titles developed by Chinese firms and listed for the US region. Dislyte, a new title by Lilith that was released in May, won the Best Multiplayer award this year. HoYoverse’s hugely successful game Genshin Impact won the Best […]
Tencent launches enterprise version of its online document app
Chinese tech giant Tencent introduced an enterprise version of its file-collaboration tool Tencent Docs at the Tencent Digital Ecosystem Summit, held on Monday. The new version of the online document platform provides users with four integrated solutions, allowing business owners to use Tencent Docs’ integrated features directly or build their own system for specific needs. […]
TSMC to introduce 4nm and 3nm tech to US plants in Arizona
Top chip contractor TSMC will introduce 4nm tech to the upcoming plant in the US state of Arizona due to pressure from clients like Apple, people familiar with the matter told Bloomberg. The new 4nm tech is an upgrade from the firm’s initial target of 5nm announced in 2020. The plant is expected to be […]
Kuaishou to build its own supply and delivery chain amid e-commerce push: report
Chinese short video platform Kuaishou is reportedly considering building its own one-stop supply chain, which it hopes would allow users to purchase goods for cheaper and receive deliveries faster, Chinese media outlet LatePost reported on Wednesday. According to the report, the establishment of a self-run supply chain and delivery network was the primary task set […]
Tencent Cloud forms unit to serve local carriers
Tencent’s cloud arm has formed a new unit to serve instead of competing with local carriers on Wednesday. Vice president of Tencent Cloud Shen Ke will lead the unit, which is set up under Tencent’s Cloud and Smart Industries Group (CSIG). Shen was vice general manager of Shanghai Unicom and general manager of Unicom Cloud. […]
Zhengzhou Foxconn plant production capacity drops to 20% in November
TF International Securities analyst Ming-Chi Kuo released a new report on iPhone shipments on Wednesday, lowering his expected shipments of 14 Pro models by 20% to 70 million – 75 million units in the fourth quarter of 2022. The report noted that the average capacity utilization rate of the Zhengzhou Foxconn facility was only 20% […]
Tim Hortons to continue China expansion as Q3 net loss widens 72%
Tencent-backed Tims China, the Chinese venture from coffee giant Tim Hortons, saw its revenue increase 67.9% to RMB 182.1 million ($25.5 million) for the third quarter of 2022, while its net loss widened by 72.4% from last year to RMB 195 million, according to the firm’s first financial report since listing on the Nasdaq following […]
BYD to begin selling passenger EVs in Mexico amid overseas push
BYD on Tuesday announced moves to begin selling its popular battery electric vehicles, including Tang crossovers and Han sedans, through eight retail partners in Mexico in 2023. According to the company’s country manager Zhou Zou, the Warren Buffet-backed automaker is aiming for an annual sales target in Mexico of at least 10,000 vehicles next year […]
