Welcome to the Daily Tech Roundup. A summary of the top technology news trending in China and the rest of Asia. [para. 1]
Beijing has started to popularize shared electric bicycles, becoming the first major city in China to do so. The pilot program will begin on May 30 in a 65.7 square kilometer area in the southeastern suburbs. The aim is to explore the feasibility of shared electric bicycles as a safe and convenient means of transportation for citizens. This is a change in policy since shared e-bikes were banned in Beijing in March 2022. Industry experts believe the changes could encourage other Tier 1 cities to follow suit. [para. 2][para. 3][para. 4]
China plans to ease strict regulations on human genetic resources that have been in place for a decade. These restrictions have been criticized by industry and academia for stifling innovation, particularly in biotechnology. The National Health Commission is leading the reform effort, focusing on revising regulations regarding the use and management of human genetic resources. Its purpose is to streamline administrative procedures, increase regulatory efficiency, and stimulate scientific research and the biopharmaceutical industry. [para. 5][para. 6]
Li Automobile reported disappointing first-quarter car sales, falling short of analysts' expectations. The company's sales for the three months ended March 31 were 24.25 billion yuan ($3.6 billion), up 32% from a year earlier but falling short of analysts' expectations of 26.71 billion yuan. . Furthermore, Li Auto's first quarter net profit was 1.3 billion yuan, lower than the 1.6 billion yuan expected by analysts. The main reason for the poor performance was weak demand for the company's first pure electric vehicle. [para. 7][para. 8][para. 9]
HiFi, the struggling Chinese luxury electric vehicle (EV) brand, is working to restart production after nearly three months of suspension. This follows an agreement with US car company iAuto Group Inc., which agreed to initially invest up to $1 billion to rebuild HiPhi. iAuto will fully support HiPhi's operations and vehicle production restart plan, with production expected to resume within three to four months, with a production target of 50,000 vehicles in the first 12 months. [para. 10][para. 11][para. 12][para. 13]
Volkswagen AG's Audi and China's SAIC Motor Corporation are collaborating on a new vehicle platform and three new pure electric models. The partnership aims to develop a model built on a China-specific platform for luxury electric smart cars known as the Advanced Digitalization Platform. We start with his three battery electric models for the B and C segments, as well as the Audi A4L and Audi A6L. The cooperation is expected to expand Audi's battery electric vehicle portfolio in China and reduce time to market by more than 30%. [para. 14][para. 15][para. 16]
AI generated, for reference only
