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- Uber & BYD Partner for 100,000 EVs Globally 🚗 Renewables Eclipse Coal in China 🌞 Temu Sales Hit $20B 💸
Uber & BYD Partner for 100,000 EVs Globally 🚗 Renewables Eclipse Coal in China 🌞 Temu Sales Hit $20B 💸
China Insights Weekly for August 5, 2024. Unpacking China’s Economic and Technological Advances.
Image: Midjourney
Welcome back to this week’s edition of the China Insights Weekly Newsletter!
Some of the key takeaways this week:
Uber’s 100,000 EVs Deal: American Uber partners with China’s BYD.
$20B Sales Surge: Pinduoduo-owned Temu boosts global sales in the first half 2024.
293 GW in Renewables: China’s renewable energy capacity eclipses coal capacity for the first time.
Dive deeper into these stories and more by clicking the headlines below. We value your feedback—let us know your thoughts or suggestions on LinkedIn or Facebook.
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🚀 Headlines
San Francisco-based Uber and Shenzhen-based BYD have entered into a multi-year strategic partnership to bring 100,000 new BYD electric vehicles (EVs) to Uber's platform across key global markets. The partnership, which will begin in Europe and Latin America, is expected to provide drivers with pricing and financing for BYD cars on the Uber platform. It will also expand to the Middle East, Canada, Australia, and New Zealand. The companies will also work together to develop future BYD autonomous vehicles. BYD sold a record 342,383 NEVs in July, surpassing its previous record in June, as Plug-in hybrids hit an all-time high.
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