ByteDance, the parent company of TikTok, is allegedly proposing to repurchase approximately $5 billion in shares from investors, a move that would value the company at around $268 billion, according to two sources familiar with the matter, per Reuters.
On December 6th, XPeng Motors announced that Volkswagen's investment in XPeng has been completed, with a subscription amount of approximately $705.6 million.
On December 6th, Ximalaya denies recent plans to carry out a company-wide layoff of approximately 30%.
On December 1st, Zowee Technology issued an announcement stating that its actual controller Xia Chuanwu was arrested for suspected insider trading and market manipulation.
Insiders say that SenseTime is considering separating its autonomous driving and healthcare businesses for separate financing.
On December 4, Warburg Pincus officially announced that Wei Zhen will step down as the President of Warburg Pincus China. Fang Min and Zhou Lang will assume the roles of Co-Presidents of Private Equity Investments in China for Warburg Pincus.
Xiaomi's Yizhuang factory aims to complete the target of assembling 300 vehicles this month for the purpose of supplying display cars to terminals.
On December 4th, Li Auto and Qingdao Yuzhe Automobile Engineering Technology Co., Ltd. responded on Weibo to a recent online rumor about uncivilized driving behavior during a test drive.
On Monday, the Chinese electric vehicle brand "NIO" obtained official approval from the Chinese authorities for independent car manufacturing.
Honda recently announced that it will lay off about 900 contract workers at its Chinese joint venture, GAC Honda Automobile Co., due to a shift towards the electric vehicle market.
On December 3rd, Tencent Music Entertainment Group announced that MOO Music, a subsidiary of the group, will officially cease its services on December 31st, 2023.
A group of NEV companies have successively announced their delivery performance in November. XPeng, Li Auto, AITO, Zeekr, Voyan and other NEV companies achieved a record high in deliveries for November.