Tesla’s China Profits Rise, Xpeng’s New Flying Car

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Welcome to Caixin Tech Insider, your bi-weekly review of the engines, shakers and negotiators of the Chinese tech scene.

China now accounts for a quarter of Tesla‘s revenue

Tesla Inc. is focusing more on the world’s largest automotive market.

In the first three quarters of 2021, the U.S. automaker’s Chinese domestic revenue swelled 123% year-on-year to $ 9 billion, according to a filing on Monday with the SEC. That means China now accounts for nearly a quarter of Tesla’s total revenue, up from 19% in the same period last year.

Also on Friday, the company headed by Elon Musk said it has set up an R&D center and data center in Shanghai, where it assembles its popular Model 3 and Model Y cars.

Xpeng unveils plans for $ 150,000 flying car

Xpeng has released the design for its sixth-generation Vertical Take-off and Landing Electric Vehicle (eVTOL), which it says will be able to run on roads as well as fly at low altitudes. But while the design may turn heads, analysts say its size and racket could create turbulence.

This is because compared to most eVTOL vehicles with six or more rotors, Xpeng’s twin-propeller model needs larger blades to provide enough lift and propulsion power. Some say the extra noise might make Xpeng’s cars a less attractive option.

Xpeng said the unnamed flying cars will sell for one million yuan ($ 156,700) and start mass production by 2024.

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Xpeng unveils plan for $ 150,000 flying car

Xiaomi maintains the crown of smartphone sales in India

Xiaomi Corp. remained the top seller of smartphones in India in the third quarter despite lower shipments as the industry struggled with supply issues for low-end models. In the three months until September, Xiaomi delivered 11.2 million smartphones in India, down 14% over one year, giving it a market share of 24%, according to Canalys.

Canalys analyst Jash Shah attributed the success to Xiaomi’s push into the high-end segment with the Mi 11 series, which partially made up for its losses in the low-end segment.

The first five were:

1. Xiaomi (24%)

2. Samsung (19%)

3. Lively (17%)

4. Realme (16%)

5. Oppo (13%)

In India, smartphone makers shipped a total of 47.5 million devices from July to September, down 5% from the same period last year, Canalys said.

US grants $ 100 billion in export licenses to Huawei and SMIC suppliers: Reuters

The american government issued for 100 billion dollars of export permits to suppliers of Chinese companies Huawei Technologies Co. Ltd. and Semiconductor Manufacturing International Corp. (SMIC) – both on the U.S. trade blacklist – from November 2020 to April 2021, a Reuters survey found, illustrating the interdependence of the world’s two largest economies.

During this period, the US Department of Commerce granted 113 export licenses worth $ 61 billion that allowed suppliers to sell to Huawei and 188 licenses worth $ 42 billion for minimum wage providers, according to documents Reuters said were provided by House Republicans on foreign affairs. Committee.

In addition, the JD.com unit collaborates on autonomous deliveries

Autonomous truck startup Plus, which divides its operations between China, the United States and Europe, and JD Technology, the fintech unit of Chinese e-commerce giant JD.com Inc., have signed a framework agreement to join forces autonomous logistics technology.

As part of the deal, the two partners will also work together to develop an all-vehicle (V2X) communication technology that can help autonomous vehicles interact with things like smart traffic lights.

This Caixin Tech Insider was compiled by Ding Yi ([email protected]) and edited by Flynn Murphy ([email protected]). Send us your tips and comments.

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