Pandaily, Author at Pandaily

Automobile Brand Beijing Borgward Declares Bankruptcy, 8-Year Operation in China Ends

Beijing Borgward, once billed as a rival to BMW, Mercedes-Benz and Audi, officially declared bankruptcy on November 29. The announcement explained that it was drained to pay off its debts but its current assets are not enough to settle the balances.

Tesla Denies Setting Up Chip Firm in China

In recent days, reports about a chip joint venture in China between Tesla and Swiss semiconductor company Annex have attracted a lot of attention, but on November 30, Tesla China said that the EV maker has not established a chip company in China.

XPeng Reports $0.96B Q3 Revenue, US Stock Price up 6.53%

XPeng, a leading Chinese electric vehicle company, on November 30 announced its unaudited financial results for the third quarter of 2022. Its total revenues were 6.82 billion yuan ($0.96 billion) for the third quarter, representing a year-on-year increase of 19.3%.

Chinese Battery Maker CALB Compensates $417K to Rival CATL for Patent Infringement

Chinese battery maker CALB announced on November 30 that it will immediately stop selling products that infringe on the patent rights of a rival, CATL, and compensate the latter 2.96 million yuan ($417,577).

Fatal Car Accident in China Involving Tesla Model Y Stirs Controversy

On the afternoon of November 28, a collision between multiple vehicles occurred in Taizhou, China's Zhejiang Province. During the accident, a Tesla Model Y collided with two cars, causing two deaths, one injury, and serious damage to all vehicles involved.

DJI Osmo Action 3 Camera Sees Upgrades Including 10-Bit Color Support

DJI released a firmware update for the Osmo Action 3, adding a 10-bit color mode with 1,024 levels of grayscale, up to 1.07 billion colors, more uniform color and less prone to faults.

Alibaba Launches E-Commerce Platform Miravia in Spain

Earlier this month, Chinese e-commerce giant Alibaba was reported to be officially launching Miravia, a new e-commerce platform for the Spanish market. A source close to the company confirmed this news.

Winners of Alibaba-Backed “Africa’s Business Heroes” Entrepreneurship Contest Announced

The Africa's Business Heroes (ABH) Prize Competition, a charitable initiative sponsored by the Jack Ma Foundation and Alibaba Philanthropy, announced this year's winners during a livestreamed Grand Finale held in Johannesburg, South Africa.

China Launches Shenzhou-15 Manned Spacecraft

At 23:08 on November 29, China Standard Time, a Long March 2F carrier rocket holding the Shenzhou-15 manned spacecraft was ignited and dispatched from the Jiuquan Satellite Launch Center.

Meituan Establishes “MARS” Robotics Research Academy in Shenzhen

Meituan, a top Chinese e-commerce platform specializing in home delivery and life services, established the Meituan Academy of Robotics Shenzhen (MARS) in the southern province of Guangdong on November 29.

ByteDance’s Moonton Opens Game Copyright Lawsuit Against Tencent

A software copyright infringement case leveled by ByteDance-owned game developer Moonton against Tencent opened for court sessions in Shanghai on November 29, attracting significant attention from the broader market.

Chinese Nucleic Acid Testing Company Nucleus Gene Arouses Widespread Doubts

Recently, Chinese nucleic acid testing companies have been controversial and accused of making huge profits during the COVID-19 pandemic. Among them, a company called Nucleus Gene has aroused widespread public doubts.

Alibaba, Tencent and Other Chinese Giants Wound Up in Indonesia

Southeast Asia, as a rapidly developing emerging region, has always been a popular destination for Chinese enterprises to begin their global ambitions. In this region, Indonesia has the largest land area, economic scale and population, so it is often one of the focal points of expanding enterprises.

Huobi Partners With Tron to Launch First National Token in Dominica

In order to advance the global development of Web3 and the metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world's first national token, the Dominica Coin (DMC).

Xiaomi Teases Features of Xiaomi 13, Desktop Computer, Headphones and Watches

Chinese consumer electronics giant Xiaomi has recently begun to promote a press conference that will be held at 7 p.m. on December 1, Beijing time. The Xiaomi 13 smartphone series, the firm's first desktop computer and other products will all be released at the event.

Qatari Prince Opens Douyin Account After Becoming Hit in China

During the ongoing FIFA World Cup in Qatar, Abdulrahman Fahad al-Thani, a member of the country's ruling family, has become a hit among Chinese fans. On November 27, he officially set up an account on TikTok's sister app for mainland China, Douyin.

Chinese Battery Giant CATL Jumps Into Battle for Major Mining Firm

China's leading battery manufacturer CATL is continuing to increase its reserves of lithium mine resources.

ByteDance’s PICO Denies Internal Disputes and Product Defects

Reports have surfaced recently claiming that some newly released PICO 4 VR devices have defective parts, and that the rapidly expanding ByteDance-owned firm is splitting into factions. On November 28, a PICO spokesperson denied these rumors.

NIO and Tencent to Cooperate on Intelligent Driving

Chinese electric vehicle firm NIO and internet giant Tencent signed a strategic cooperation agreement in Shenzhen on November 28. Under the deal, the two sides will carry out in-depth cooperation in the fields of autonomous driving cloud technology, intelligent driving maps and digital ecology.

BYD Frigate 07 EV to Be Released Dec 9, Pre-Sale Price From $30.6K

The Frigate 07 electric vehicle model from Shenzhen-based automotive firm BYD will be launched on December 9. As a brand-new addition to BYD's Warship Series, the Frigate 07 is positioned as a five-seat medium-sized SUV.

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