China Tech Digest: Huawei, Volkswagen To Jointly Develop Autonomous Driving Technology; Alibaba Cloud Will Open Data Centers In South Korea And Thailand

Huawei, Volkswagen to jointly develop autonomous driving technology

Huawei Technologies plans to form a joint venture with the global automotive giant Volkswagen Group to develop autonomous driving technology. At present, the project is rapidly advancing. The joint venture aims to provide solutions to Volkswagen Group. One of cooperation mode is "Volkswagen will contribute money to become the controlling party of JV, and Huawei will provide technical IP (intellectual property)”, which not only includes software technology, but also Huawei’s chip IPs.

Alibaba Cloud will open data centers in South Korea and Thailand

Alibaba Cloud announced today at the Apsara Conference that it will open two new data centers in South Korea and Thailand to assist local companies in strengthening digital innovation.

Zhang Yiming became the richest Chinese internet entrepreneur

With an estimated net worth of US$59.4 billion, Zhang Yiming, the founder of ByteDanc, surpasses Ma Huateng to become the richest Chinese internet entrepreneur and the second-richest person in China, according to Forbes’ real-time ranking. On May 20 this year, Zhang Yiming issued an internal letter announcing his resignation as CEO.

Foxconn will set up EV factories in Europe, India and South America

Foxconn Chairman Liu Yongwei stated that Foxconn will set up electric car factories in Europe, India and South America by 2024.

Dreame secures RMB3.6 billion in series C round of financing

Chinese smart household electrical appliances brand Dreame announced that it has secured RMB3.6 billion in series C round of financing. This round was co-led by Huaxing New Economic Fund and CITIC PE, with participation from Country Garden Venture Capital, Yunfeng Capital, Stoneylake Asset and existing investors Xiaomi Inc., Shunwei Capital and IDG Capital. After this round of financing, Dreame will continue to invest in high-speed digital motors and AI algorithms. At the same time, the company has begun to further explore more high-speed motor applications.

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