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The central bank of China has enacted a regulation, effective from May, that presents a stringent stance towards monopolistic practices in the financial sector.
Alibaba underwent a major reorganization last year, mainly hoping to ensure faster and more efficient decision-making, and therefore granted more autonomy to business team leaders.
A spokesperson from Xiaomi stated, "Regarding recent rumors, we solemnly clarify the following: Xiaomi has never had any plans or actions to acquire or control Evergrande Auto."
The annual report shows that in 2023, Faraday Future had revenue of $800,000 and a cost of sales of $43 million, both of which were zero in the same period of the previous year.
Li Auto's representatives have confirmed a substantial reduction in their workforce. The total number of employees has fallen from its peak of over 30,000 to around 22,000 during the latest layoff period.
FAW-Volkswagen's Foshan factory cuts 565 positions; the official response states that this adjustment will not affect the daily production and operation of Foshan branch.
