On Wednesday, in a statement, China-based autonomous driving startup WeRide, said will deepen its autonomous driving technology partnership with Nissan Motor and aims to raise $310 million in a new funding round which chasing a valuation of $3.3 billion. Guangzhou-headquartered WeRide, which is testing vehicles in California, did not disclose details on the size of the…
An executive from Huawei Technologies said, the company aims to develop driverless passenger car technology by 2025. The move sees the erstwhile Chinese telecom giant diversifying its business in the face of U.S. sanctions. “Our team’s goal is to reach true driverless passenger cars in 2025,” said Wang Jun, senior executive at Huawei’s smart vehicle…
In a significant development, the U.S. Senate voted 68-32 to approve a sweeping legislative package aimed at boosting the country’s ability to compete with China, with the U.S. Congress seeking to take a tough line on Beijing. The bipartisan measure authorizes around $190 billion in provisions to strengthen U.S. technology and research spending; it will…
On Tuesday, a report from the Financial Times states, Nvidia Corp has submitted an application to Chinese competition regulators to review a $40 billion acquisition of UK chip designer Arm. “The application was made in recent weeks and sets in motion a period of scrutiny that could take up to 18 months”, said the report…
On Friday, Japan’s Nikkei reported Nissan Motor Co along with its China-based battery maker partner Envision AESC group will build new battery plants for electric vehicles in Japan and in the United Kingdom; the duo are set to invest more than $1.82 billion (200 billion yen) to this end. The new plants are scheduled to…
According to four sources with knowledge of the matter at hand, embattled Chinese tech giant Huawei Technologies is expanding its smart car partnership with state-owned Chongqing Changan Automobile Co Ltd to include the design and development of semiconductors for the auto sector. In the last 6 months both companies have been collaborating informally on designing…
In a development that marks China’s latest attempt to clamp down on speculative trading of cryptocurrency, Beijing has banned financial institutions and payment companies from providing services related to cryptocurrency transactions, warning investors against speculative crypto trading. Under the ban, institutions including banks and online payments channels are disallowed to offer clients any services involving…
In a statement, WeRide, a China-based autonomous driving startup which is backed by Renault, Nissan, and Mitsubishi Motors said, it has raised “hundreds of millions” of dollars in its latest funding round which valued it at $3.3 billion. Guangzhou, China headquartered WeRide however did not disclose details on the size of the funding. In a…
In a significant development, according to three sources familiar with the matter at hand, Xiaomi Corp plans on entering the electric vehicles (EVs) segment using Great Wall Motor Co Ltd’s factory, making it the latest tech firm to join the smart mobility race. Xiaomi, one of China’s biggest smartphone makers, is in talks to use…
In a significant development, Xiaomi Corp announced on Friday that it will unveil a new self-developed computer chip on March 29 on its official Weibo social media account.
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