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Haomo.AI, an autonomous driving technology start-up backed by Great Wall Motor, has raised 100 million yuan (US$13.9 million) in a new round of financing buoyed by Chinese drivers’ growing appetite for intelligent vehicles.
Xpeng Future Plans: Multiple Xpeng models will go on sale in the five Middle East and North African countries starting in the second quarter of this year, the company said in a statement on its WeChat account.
Striving to reduce local government debt while boosting China’s local-level economies through investment is seen as a conflicting approach, while a decline in construction machinery operations does not bode well.
The product will be used on the X9 MPV as well as XPeng’s next electric B-class sedan, with start of production planned for Q3 2024. The high voltage hairpin (HVH) 220 eMotor offers high power and torque density, plus higher efficiency at a competitive cost. It also provides outstanding durability, BorgWarner said.
Lu Dewen, a sociology professor specialising in rural governance at Wuhan University, warns of a trend of superficiality rather than substance amid China’s sluggish economic recovery.