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China Telematics Service Providers (TSP) Market Report 2021: Focus on OEMs, Telecom Operators, Internet/Technology Companies, and Third-Party Platform Providers


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Small and medium TSPs will fade away and TSP giants will come to the front
As smart car as a service grows, automakers focus more on introduction of technologies or platforms from big data and cloud computing to security, content platform and artificial intelligence, providing more intelligent, more diversified content and value-added services, while making an expansion in OEM market.
As the gateway for vehicle traffic flow, telematics service providers (TSP) are catering to the industrial change by constantly extending services content and boundaries, across fields from initial remote service to phone mirroring and connectivity, then to connected IVI system, finally to integrated telematics system covering people, vehicle and life. ....

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S&P 500 (SPX) Nasdaq (QQQ) Day Ahead: Tax talk troubles markets, SPX sits on support line


President Biden proposed to increase capital taxes on wealthy Americans from 20% to 39.6%.
ECB says tough decision ahead in June on its bond-buying program.
EU completes a new deal with
P
EU PMI 53.7 from 52.9 expected.
JNJ: CDC to meet on Friday to discuss covid vaccine authorization.
Intel (INTC) reported earnings after the close on Thursday, which disappointed the market despite beating estimates. The outlook disappointed. Shares down 2% in premarket.
American Express (AXP) profit beats but revenue misses, shares down 3% in premarket.
Mattel (MAT) to jump on the NFT bandwagon by considering making some of its collector brands into NFTs. 
SNAP beat earnings estimates as user growth increased more than forecast. Shares up 4% in premarket. ....

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Exclusive-Baidu's Jidu Auto to invest $7.7 billion in 'robot' smart cars


Exclusive-Baidu s Jidu Auto to invest $7.7 billion in robot smart cars
By Yingzhi Yang, Yilei Sun and Tony Munroe
Reuters
BEIJING (Reuters) -Jidu Auto, an electric vehicle venture between China s tech giant Baidu and Chinese automaker Geely, aims to plough 50 billion yuan ($7.7 billion) into producing smart cars over the next five years, its chief executive told Reuters.
Xia Yiping said on Friday that the funding would come from Baidu and other investors and Jidu would aim to launch its first electric vehicle (EV) in three years, as is standard for the industry, but would make efforts to speed this up.
Its first EV would look like a robot and would target young customers, Xia said, adding that Jidu would analyse big market data before deciding on a final model. ....

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Exclusive: Baidu's auto venture to invest $7.7 billion into smart cars over next five years - CEO


Exclusive: Baidu s auto venture to invest $7.7 billion into smart cars over next five years - CEO
3 Min Read
BEIJING (Reuters) - Jidu Auto, the electric vehicle venture between China’s tech giant Baidu and Chinese automaker Geely, aims to pour 50 billion yuan ($7.70 billion) into making smart cars over the next five years, Jidu’s chief executive told Reuters on Friday.
Slideshow ( 3 images )
Xia Yiping said Jidu would aim to launch its first electric vehicle (EV) in three years, as is standard for the industry, but would make efforts to speed up that process.
Its first model would look like a “robot” and would target young customers, Xia said, adding that Jidu would analyse big market data before deciding on a final model. ....

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China Tech Digest: Baidu And Geely Plan To Invest $7.7B In Smart Cars; Xiaomi Considers Investing AI Chip Maker


Total0
Baidu and Geely plan to invest US$7.7 billion in smart cars development in the next five years
Jidu Automobile, a joint venture between Baidu Inc. and Geely Automobile, plans to invest RMB50 billion (US$7.7 billion) in the development of smart car technology in the next five years. The company said it plans to recruit 2,500 to 3,000 employees for the project in the next two to three years, of which about 500 are software engineers. The company’s car brand will be announced in the third quarter of 2021. Baidu owns 55% of Jidu and Geely owns 45%.
Xiaomi considers investing in AI chip maker Black Sesame Technolongies ....

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