Transportation

Lixiang’s first production model is not off to a good start.

The global economy slowdown and failed IPO cases have made investors more selective in investing in early stage startups.

The company will expect the fourth quarter in 2019 to be profitable.

While first-tier tech giants are retreating, Xiaomi and Meituan Dianping are testing the waters in the new energy vehicle sector via investments.

More EV companies are eyeing collaboration in the battery charging sector.

The two companies have also established a strategic partnership in ride-hailing service, power and energy solutions, and the production and sales of Byton models overseas.

Daily usage of ride-hailing apps sees decline for five consecutive quarters in China.

The industry still has large potential for growth.