Pandaily's Digest | Dec 20, 2023
Editor's note: On December 19th, Xiaomi issued a statement regarding the recent malicious leaks and false rumors circulating online about Xiaomi's car.
Xiaomi: Dismisses 3 Employees Spreading False Information, Will Never Hire Them Again
On December 19th, Xiaomi issued a statement stating that it will hold two media personnel accountable for leaking information. And 3 employees who fabricated and spread a large amount of false information will be dismissed and permanently banned from employment. Link
Headlines from China
Douyin and Ele.me Both Deny Acquisition Rumors
Douyin and Ele.me both deny acquisition rumors, stating that their collaboration has been steadily progressing but there are no plans for acquisition. Link
HeyGen Is Deregistering Its Domestic Entity, Possibly Related to A $5.6 Million New Funding Round
The domestic entity behind the AI video generation tool HeyGen, Surreal AI, is currently planning to deregister its domestic company. Link
BYD: Plans to Establish 100 Dealerships in Japan, Aiming for Annual Sales of 30,000 Units
BYD is planning to establish a network of 100 dealerships in Japan and aims to achieve an annual sales target of 30,000 units by 2025. Link
Super Apps: The Inevitable Future of Integrated Platforms in the Digital AgeÂ
The astounding success of super apps like WeChat in China suggests that this model could potentially gain ground in the West as both consumers and businesses increasingly gravitate towards comprehensive platforms that cater to their multifaceted needs. Link
News You Shouldn’t Miss
NIO Secures $2.2 Billion Investment from Abu Dhabi-based CYVN Holdings
Chinese electric vehicle manufacturer NIO revealed on Monday that it has signed a share subscription agreement with CYVN Holdings L.L.C.,. Under this agreement, CYVN will make a total cash investment of US$2.2 billion in NIO. Link
OPPO Find X7 Series Will Support Satelite Communation FunctionsÂ
The OPPO Find X7 Pro has passed the national 3C certification and is equipped with a 6.82-inch 2K display and a micro four-curved screen that supports a 120Hz LTPO refresh rate. Link
Alibaba Sells Part of XPeng Stake, Reducing Shareholding to 7.5%
Alibaba Group announced on December 15th that it has sold a portion of its stake in XPeng Motors, reducing its shareholding from 10.2% to 7.5%. Link
William Li Personally Tests: NIO ET7 Equipped with A 150kWh Battery Has A Range of Over 1044km
On December 17th, William Li drove NIO ET7 from Shanghai to personally test the endurance of the 150 kWh battery pack. Link
Lei Jun: Xiaomi’s First Car Involves 3,400 Engineers and R&D Costs Exceed 10 Billion Yuan
On December 18th, during an interview on CCTV's program 'One On One', Lei Jun discussed the experience and current situation of Xiaomi's automotive venture. Link
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