Pandaily’s Digest #20221008
Chinese electric vehicle company NIO unveiled its ET7, EL7 and ET5 models for sale in Germany, the Netherlands, Denmark, and Sweden at a European launch event held in Berlin on October 7.
NIO Targets Four European Markets With Launch of Three EVs
Chinese electric vehicle company NIO unveiled its ET7, EL7 and ET5 models for sale in Germany, the Netherlands, Denmark, and Sweden at a European launch event held in Berlin on October 7. This expansion follows the firm’s entry into the Norwegian market last year.
The NIO ET7, a high-performance flagship sedan, is now available to order in those four countries, with deliveries due to start on October 16. NIO also confirmed that pre-orders for its EL7, a medium-to-large smart electric SUV, and the ET5, a medium-sized smart electric sedan, are open now, with deliveries set to start in January and March 2023, respectively.
Huawei Executive Director Ryan Ding Dies of Sudden Illness
During the late hours of October 7, Huawei released an internal message stating that Ryan Ding, Deputy Chairman of the firm’s supervisory board, had died early that morning at the age of 53 due to a sudden illness. Ding was a key member of Huawei’s management team.
Faraday Future Executive Chair Sue Swenson Resigns
California-based electric vehicle maker Faraday Future announced on October 7 that Sue Swenson, the firm’s executive chairperson, as well as Scott Vogel and Jordan Vogel, have officially resigned as directors and all other related positions within the company. Meanwhile, Adam He has been appointed as interim chairman. The company previously said that some directors had received death threats and baseless accusations, accelerating Faraday Future’s leadership transition.
Parent Firm of DaaS Provider Bear Rental Cleared for Hong Kong IPO
Device as a service (DaaS) provider Bear Rental’s parent company, LX Technology, passed a hearing for the Hong Kong Stock Exchange on October 7, with Haitong International Securities Group serving as the exclusive sponsor.
Founded in 2004, LX Technology started out as a provider of computer assembly services and a merchant of used PCs. It launched short-term and long-term computer rental projects in 2008 and 2013 respectively, as well as providing IT technical services to enterprises. In 2017, it began to develop upstream suppliers and customer networks for obsolete equipment. In 2018, it launched SaaS-based equipment management services and a new brand called Bear Rental.
Web3 Is Set to Permeate Smartphone Industry
“The news has not been officially disclosed,” an individual close to Huawei said to Chinese media outlet Huxiu. “Huawei has at least three departments studying and exploring Web3, and the HarmonyOS team is one of them.”
Huawei is just one of many smartphone manufacturers exploring Web3. Before Huawei, Samsung and HTC have already worked on it, successfully combining Web3 with their own smartphone hardware. Nothing, a rising tech startup, also followed a similar pace.
Crypto Exchange Huobi Acquired by About Capital, Founder Steps Down as Shareholder
Huobi Global, a leading crypto exchange, announced on October 8 that it has agreed to be purchased by Hong Kong-based investment company About Capital Management (HK) Co., Limited. Leon Li, Founder and CEO of Huobi, stated on social media that he will no longer serve as the shareholder and actual controller of the company, adding that he will not be involved in any aspect of its business going forward.
Pinduoduo’s US Sister Site Temu Gaining Fans by Making Online Shopping Fun Again
US online marketplace Temu is receiving effusive praise from consumers who found shopping on the e-commerce platform fun and uplifting.
One buyer bought an Astronaut Galaxy Projector for $11.99 and left a review, saying “If I were to rate this out of a 10, I would give it a billion. I love it so so so much!!!” Another buyer paid $3.99 for a pair of platform slides and commented that the product was “very soft and comfortable. Fast shipment and excellent price, too!”
CALB Becomes First Battery Manufacturer Listed in Hong Kong
China Aviation Lithium Battery Co., Ltd. (CALB) officially listed on the main board of the Hong Kong Stock Exchange under the symbol of “3931” on October 6, becoming the first battery company listed on the exchange. However, the company’s shares fell 1.45% to close at HK $37.45, lower than the issue price of HK $38.
BYD’s Q3 Vehicle Sales Surpass Tesla
Chinese automaker BYD outsold Tesla by nearly 200,000 vehicles globally in the third quarter of 2022, according to the latest data released by the two companies. Meanwhile, according to the latest data from the secretary general of the China Passenger Car Association, from July to August, China accounted for nearly 70% of the global new energy vehicle market.
According to BYD’s announcement, its new energy vehicle sales in September totaled 201,259 units, compared with 71,099 units in the same period last year. Its cumulative sales this year have reached 11,800,054 units.
Look Into ByteDance’s Gaming Unit Nuverse
ByteDance’s product launches are highly data dependent, with test results determining which features go live and algorithms determining which videos users see. When it comes to games, however, there are many more than just these factors. ByteDance’s game division Nuverse, which is responsible for the development and publishing of major games, has shrunk rapidly over the past three months due to a lack of top-tier titles and limited return on investments, according to a report by LatePost.