Welcome to the Daily Tech Roundup — a briefing of the top technology news making headlines in China and the rest of Asia. [para. 1]
Beijing is set to promote shared electric bicycles, making it the first major Chinese city to do so. A pilot program will be launched over a 65.7-square-kilometer area in a southeast suburb starting May 30. The aim is to explore the shared electric bikes’ feasibility as a safe and convenient travel option for citizens. This marks a policy reversal, as shared electric bikes were banned in the capital in March 2022. Industry experts believe this change could prompt other first-tier cities to follow suit. [para. 2][para. 3][para. 4]
China plans to ease its stringent regulations on human genetic resources, which have been in place for a decade. These restrictions have been criticized by industry and academia for stifling innovation, particularly in biotech. The National Health Commission is leading the reform effort, focusing on revising rules for the use and management of human genetic resources. The objective is to streamline administrative procedures, boost regulatory efficiency, and invigorate scientific research and the biopharmaceutical industry. [para. 5][para. 6]
Li Auto Inc. reported disappointing first-quarter vehicle sales, missing analyst estimates. The automaker’s sales were 24.25 billion yuan ($3.6 billion) for the three months ending March 31, up 32% year-on-year but short of the 26.71 billion yuan analysts had expected. Additionally, Li Auto’s first-quarter net income was 1.3 billion yuan, falling short of the 1.6 billion yuan profit forecasted by analysts. The underperformance is largely attributed to the tepid demand for its first pure electric car. [para. 7][para. 8][para. 9]
HiPhi, the troubled Chinese luxury electric-vehicle (EV) brand, is working to resume production after nearly a three-month halt. This follows a deal with U.S. auto firm iAuto Group Inc., which agreed to initially invest up to $1 billion for HiPhi’s restructuring. IAuto will fully support HiPhi’s plan to resume operations and vehicle production, with an aim to restart production within three to four months and target an output of 50,000 units in the first 12 months. [para. 10][para. 11][para. 12][para. 13]
Volkswagen AG’s Audi and China’s SAIC Motor Corp. Ltd. are collaborating on a new vehicle platform and three new pure-electric models. This partnership aims to develop models built on a China-specific platform for premium electric smart cars, known as the Advanced Digitized Platform. It will start with three battery-electric models for the B and C segments, similar to the Audi A4L and Audi A6L. The cooperation is expected to expand Audi’s battery-electric vehicle portfolio in China and reduce time to market by more than 30%. [para. 14][para. 15][para. 16]
AI generated, for reference only
