China Tech Digest: Foxconn To Build An EV Factory In Thailand; China’s Cloud Service Market Reached US$6.6 billion In Q2


Foxconn and PTT will invest US$2 billion in Thailand to build an EV factory

Foxconn and Thai state-owned energy company PTT established a joint venture and planned to build a new factory. The investment in the factory is expected to be as high as US$2 billion, and the construction will take about 2-3 years. The initial production target is 50,000 vehicles per year, and will reach 150,000 vehicles per year in the future.

Beijing will build a world-class international hydrogen energy city

Beijing plans to build an international hydrogen energy city with the target of “regional coordination, radiative development, domestic leadership, and world-class level”. Demonstrated applications will cover ten major scenarios such as passenger transportation services during the Winter Olympics, port operations, and bulk material transportation. According to reports, 212 hydrogen fuel buses will be used in Yanqing competition area of ​​the Beijing Winter Olympics.

Canalys: China’s cloud service market reached US$6.6 billion in Q2

Canalys recently released a report on China’s cloud computing market for the second quarter of 2021. The report shows that in the second quarter, China’s cloud infrastructure market grew by 54%, reaching US$6.6 billion. Alibaba Cloud, Huawei Cloud, Tencent Cloud and Baidu Smart Cloud ranked the top four with market share of 33.8%, 19.3%, 18.8%, and 7.8% respectively.

Alibaba leads a US$300 million series B round in DeepRoute

Alibaba has led a US$300 million series B round financing in DeepRoute, a Chinese L4 full stack self-driving solution provider. Jeneration Capital, Fosun RZ Capital, Yunqi Partners and Glory Ventures also participated. DeepRoute’s CEO Zhou Guang said: "Proceeds of the round will mainly be used for the company’s R&D investment and team construction, and expand the scale of autonomous driving tests and fleets. DeepRoute has already started RoboTaxi trial operation in the center of Shenzhen. This year, we will promote the application of autonomous driving in intra-city freight. Combining the resource advantages, we will realize the commercialization of autonomous driving in an orderly manner."

Zhipu.AI completed a RMB100 million series A round of financing

Chinese AI knowledge graph platform developer Zhipu.AI recently completed a RMB100 million series A round, invested by Shenzhen Fortune Caizhi Venture, Jiangmen Ventures, Turing Ventures, Tsinghua Holdings Capital, TH Capital and LUSTER LightTech. According to the official introduction, Zhipu.AI has developed WuDao2.0, China’s first and the world’s largest pre-training model involving 1.75 trillion parameters.

(China Money Network’s articles are curated and translated from credible Chinese media organizations with established brands, experienced editorial teams, and trustworthy journalism practices. However, we are not responsible for the accuracy of the information. For any questions, please reach out to our editorial department.)

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