Pandaily's Digest #20210331
Xiaomi confirms it will spend $10B on building its own electric cars, Geely plans to establish aerospace company in Guangzhou, Dreame Technology unveils new cleaning products at AWE 2021, and more.
Xiaomi Confirms It Will Spend $10 Billion On Building its Own Electric Cars
Chinese smartphone maker Xiaomi has officially announced that it will start manufacturing electric cars, as the company seeks to diversify beyond smartphones and consumer electronics.
China VC Weekly: EVs, Biotech and Logistics
In last week’s news, Faraday Future raises additional funds before possible listing, Jack Ma-backed biotech startup secures funds in a series C round, while logistics startup FlashEx raises a confident Series D round.
Geely to Establish Aerospace Company in Guangzhou, Aiming to Develop Satellites and Communications Equipment
Chinese leading automaker Zhejiang Geely Holding Group announced on Tuesday that it plans to establish a commercial aerospace company in Nansha District of Guangzhou.
More than 600 Million Yuan to Be Invested in Safety Over Next Two Years: Zhou Shengfu, CEO of Lalamove
Zhou Shengfu, CEO of vehicle-hailing platform Lalamove, said on Tuesday that all safety improvement measures that the company promised earlier have now been fully put into force.
Xiaomi Launches Its First Foldable Phone Mi MIX FOLD with Liquid Lens
Chinese smartphone maker Xiaomi on Tuesday launched the brand’s first foldable smartphone, the Mi MIX FOLD, packed with top-notch innovative features.
Dreame Technology Announces Launch of Innovative Cleaning Products at AWE 2021
Chinese leading home appliance manufacturer Dreame Technology unveiled several new products at the Appliance and Electronics World Expo 2021 (AWE 2021) in Shanghai last week.
Buffett-Backed BYD Releases Strong 2020 Financial Results as New Energy Vehicle Sales Hits Record High in China
Chinese carmaker BYD unveiled its 2020 financial results on Monday with net profit jumping 162% year-on-year to 4.23 billion yuan ($643.72 million) thanks to a recovery of demand in the world’s largest automotive market.
Pinduoduo Leadership Change a Shot in the Arm for Corporate Governance
Pinduoduo took six years to build an online marketplace that serves almost 800 million paying customers – and that was not their only unprecedented feat.
FlashEx Secures USD 125 Million in Series D2 Round
On March 30, FlashEx, a Chinese logistics startup that provides intra-city express delivery services, raised USD 125 million in the second tranche of a Series D funding round.
Tencent to Equip Audi Cars with In-Car WeChat, QQ Music in New Partnership
German automaker Audi has teamed up with Chinese tech giant Tencent to work on an intelligent and interconnected digital ecosystem for future vehicles, including digital cockpits, digital marketing and other user operations.
Xiaomi Unveils Rest of Mi 11 Series Lineup Including Mi 11 Ultra with Second Display Next To Rear Cameras
Chinese smartphone maker Xiaomi on Wednesday unveiled the rest of its Mi 11 flagship family, as well as a next-generation fitness band and a gaming Wi-Fi router.