Tech China Post #83

Huawei will develop self-driving cars for the Chinese market with Audi. Audi’s Q7 already demonstrated autonomous features using Huawei’s Mobile Data Center. Chinese government has allowed various domestic and foreign partnerships to advance autonomous car programs in the last two years. (link)

Novelis is making additional investments to increase its capability to manufacture premium aluminum sheets for auto makers. The additional over $200 million investment will allow Novelis to build a new China-based facility to increase production capacity by 100,000 tons. The growing demand of aluminum sheets is largely driven by electric vehicles manufacturers. (link)

Tencent invested $180 million in Nubank, a digital bank in Brazil. In addition to digital payments, Nubank will soon offer loans to consumers after obtaining license from Brazil government earlier in the year. (link)

China is increasingly focus on the private space industry. Chinese private space companies received $69 million of investment in the third quarter. To date, China has already invested $217 million in this area. (link)