Welcome to the Daily Tech Roundup, highlighting the critical technology news from China and the greater Asian region.
AI pioneer Kai-Fu Lee, a notable tech figure, is steering his Beijing-based startup 01.AI towards a significant development. The company is releasing Wanzhi, an AI-driven productivity assistant designed to bolster China’s stint in AI technology. Wanzhi, a free application, aids users in creating spreadsheets, documents, and presentations swiftly, similar to Microsoft’s Office 365 Copilot. It is equipped to interpret financial reports, take meeting minutes, and provide summaries for extensive texts like Elon Musk’s 600,000-word biography. The app supports both Chinese and English users, underscoring its versatility for the Chinese market [para. 1].
The European Union (EU) is terminating its probe into Chinese companies bidding for a Romanian solar park as the firms have opted out. Noticeably, a German unit of Longi Green Energy Technology, the world’s second-most valued solar company, is among those retracting their bids. The EU initiated the investigations last month under its foreign subsidies regulation, targeting state-funded enterprises that might leverage financial support to overshadow European counterparts. The project’s withdrawal comes as it is partly funded by the EU, concerning a 110-megawatt Romanian solar park [para. 2].
SAIC Motor Corp. Ltd, a state-owned entity, plans to share its advanced hybrid car technology with global automotive giants Volkswagen AG and General Motors Co. This strategic move highlights how the shift towards electrification is positioning Chinese automakers at the forefront of innovation. Lu Yong, executive vice president at SAIC’s R&D and Innovation Headquarters, disclosed that both Volkswagen and GM will incorporate SAIC’s hybrid technology, signaling a notable partnership in the hybrid vehicle domain [para. 3].
China’s automotive industry has achieved a pivotal milestone, with new-energy vehicle (NEV) penetration rates surpassing 50% in both wholesale and retail segments for the first time in early April, based on China Passenger Car Association data. This feat follows Chinese car exports outstripping those of Japan last year, marking China’s leadership in the global automotive market. The competition within the auto sector, especially amid the NEV transition, has welcomed substantial private investments despite early uncertainties. This growth trajectory owes significantly to market competition and supportive policies, cementing China’s prominent role in the NEV era [para. 4].
Nio Inc., a prominent Chinese electric vehicle (EV) manufacturer, has secured a partnership with a sixth automaker to expand its battery swapping and charging network. The latest collaborator is the state-owned Guangzhou Automobile Group Co. Ltd. (GAC). This alliance will streamline efforts on battery standards, vehicle research and development, and the establishment and operation of the battery swapping network. Nio’s CEO, William Li, emphasized that joining this network spares GAC the time and resources required to develop an independent network, fostering efficiency and collaboration [para. 5].
AI generated, for reference only
