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Posts Tagged ‘China’

XPeng Motors Installs 30 Fast-Charging Stations In One Day

03.21.2019 · Posted in Cars Articles, Other Vehicles Articles

30 big multi-unit fast-charging stations installed in a single day. March 18, 2019 was a milestone day for China-based EV maker XPENG Motors as it officially put 30 supercharging stations into operation in five cities across China, including Beijing, Shanghai, Guangzhou, Shenzhen and Wuhan. Drawing inspiration from the logo of the startup, the X-shaped charging ...

Tencent Q4 profit disappoints, but cloud and payments gain ground

China’s Tencent reported disappointing profits in the fourth quarter on the back of surging costs but saw emerging businesses pick up steam as it plots to diversify amid slackening gaming revenues. Net profit for the quarter slid 32 percent to 14.2 billion yuan ($2.1 billion), behind analysts’ forecast of 18.3 billion yuan. The decrease was ...

Taxes on VC and electric buses harming oil prices

From Extra Crunch A lot of subscribers got to hear from TechCrunch hardware guru Brian Heater, who has been meeting with (too many) robotics companies as we prepare for TechCrunch Sessions: Robotics. If you weren’t able to join us, a transcript will be available in the next 48 hours. We have Lucas Matney and Eric ...

Slowdown or not, China’s luxury goods still seeing high-end growth

Despite well-documented concerns over an economic slowdown in China, the country’s luxury goods market is still seeing opulent growth according to a new study. Behind secular and demographic tailwinds, the luxury sector is set to continue its torrid expansion in the face of volatility as it’s quickly becoming a defensive economic crown jewel. Using proprietary ...

Work Now At Full Steam On Tesla Gigafactory 3 In China: Video

03.21.2019 · Posted in Cars Articles, Other Vehicles Articles

Here’s a quick look at the Tesla Gigafactory 3 on March 20, 2019 The first phase of construction work at the Tesla Gigafactory 3 in Shanghai, China is progressing and the factory is gradually taking shape. The latest video shows that the foundation was placed and soon the first buildings will start climbing up. The ...

PicsArt hits 130 million MAUs as Chinese flock to its photo editing app

If you’re like me, who isn’t big on social media, you’d think that the image filters that come inside most apps will do the job. But for many others, especially the younger crowd, making their photos stand out is a huge deal. The demand is big enough that PicsArt, a rival to filtering companies VSCO ...

The World Health Organization is setting up rules and oversight for human gene editing

Yesterday, the World Health Organization wrapped up its first meeting of a new advisory committee set up to create global governance and oversight standards for human gene editing. The committee was hastily pulled together in December after the revelation last year that a Chinese scientist had genetically modified two embryos using CRISPR technology to remove the ...

Seven Africa-focused startups present at Y Combinator’s Demo Day

The seven African-focused companies which presented as part of Y Combinator’s 200 strong cohort of Winter 2019 class of 200 startups may seem like a small percentage for such a large class, but it represents the growing significance of African ventures in YC’s universe. Since 2016, the Silicon Valley accelerator—that provides seed funds and mentorship ...

Spotify rival Tencent Music posts maiden quarter loss of $130M on one-off costs

Tencent Music Entertainment Group, the Chinese answer to Spotify that Tencent spun out and floated on the New York Stock Exchange in December, reported a net loss of 876 million yuan ($127 million) in its first set of quarterly results since going public. The loss, which TME forecasted in its prospectus filed ahead of the IPO, ...

Xiaomi Q4 sees strong growth in overseas shipment and internet services

Xiaomi, the Chinese company known for its cheap handsets and a vision to drive revenues by selling internet services, has come in ahead of analysts’ estimates in its fourth-quarter profit although revenues missed expectations. The Hong Kong-listed company more than tripled its net profit to 1.85 billion yuan ($276 million), exceeding the 1.7 billion yuan ...