Baidu to invest in electric car startup
Top business and technology news for March 6, 2017. Part of the daily SupChina news roundup "New airport in Tibet near disputed border.”
Baidu rumored to invest in electric car startup solidifying autonomous car strategy / TechNode
Internet giant Baidu reportedly plans to invest about $100 million in NextEV, a high-end electric car manufacturer founded in Shanghai in November 2014. The alliance is intended to boost Baidu’s faltering autonomous driving business. NextEV has raised more than $600 million since June 2015, and last year launched its first electric car — the NIO EP9.
How China’s Airbnb copycats beat the Silicon Valley titan at its own game / SCMP
Zhu Bai Jia is a Shenzhen-based startup founded in 2012 that assists Chinese outbound tourists with short-term rentals in some 70 countries, and also helps them plan entire trips. Airbnb launched a similar service last year. “The joke in our sector is that ‘China used to copy Silicon Valley, but now it is Silicon Valley that copies China,”’ according to Li Le, a spokesperson for Zhu Bai Jia.
- ChemChina says Syngenta deal filing accepted by Beijing / Reuters
- China cuts GDP target to 6.5 percent as leaders seek stability in economy / The Telegraph
- China signals change of course on long-standing yuan policy / SCMP
- Opinion: China’s hidden risks rise / Bloomberg
- Jim Rogers, intrepid investor, finds bumpy road to North Korea / NYT (paywall)
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