The Hefei government expects the investment in Nio will total more than RMB 10 billion ($1.4 billion) over the next five years.
Posted inWith Chinese Characteristics
Apple to require licenses for games in China App Store
Apple has sent a notice to developers requiring them to submit license numbers for paid games before Jun. 30 if they want to distribute in mainland China.
Posted inHeavy Hitters
BYD electric bus deal one of the biggest for US
Chinese EV giant BYD said the deal with Los Angeles could reduce greenhouse gas emissions by 81% compared to the city’s natural gas buses.
Posted inUp and Comers
Megvii to refile expired IPO application: report
Megvii has faced several hurdles in its attempts to list in Hong Kong including city-wide protests, a US ban, and now the Covid-19 outbreak.
Posted inHeavy Hitters
Foxconn offers $1,000 to new workers in bid to resume production
The Foxconn iPhone factory in Zhengzhou is offering RMB 7,000 as an incentive to new workers in an effort to regain normal production levels.
Posted inTurf Wars
Huawei launches XS foldable handset with self-developed ecosystem
In launching its proprietary app ecosystem to users outside of China, the tech giant is ratcheting up its competition with Google.
Posted inHeavy Hitters
iFlytek granted US trade ban exemption for medical supplies
iFlytek applied for an exemption on Feb. 7 to donate medical supplies that it was restricted from buying as a result of the ban.
Posted inOn the Cusp
China delays self-driving car deployment goal to 2025
China backing off its ambitious plans made it clear that self-driving technology is a greater technological leap than many had anticipated.
Posted inOn the Cusp
China’s bike rental sector recovering as workforce returns
China’s bike rental industry is rebounding after the Spring Festival holiday as riders see it as the safest transportation option during the outbreak.
Posted inUp and Comers
AI startup Laiye raises $42 million in Series C funding
Laiye’s funding comes less than a year after closing its Series B and amid a dramatic downturn in startup investment amid Covid-19 concerns.