Ford Pauses Work On EV Battery Plant In Michigan With CATL
On September 25th, Ford announced that it temporarily stopped the construction of its $3.5 billion electric vehicle battery factory in Michigan. Its collaboration with Chinese battery company, Contemporary Amperex Technology (CATL) would suspended. However, on September 26th, CATL stated that the company was proceeding with its collaboration with Ford as planned.
According to the report, China has been the world’s largest market for new energy vehicles for eight consecutive years, with a global market share exceeding 60%. In the first half of 2023, China’s automotive exports surpassed Japan for the first time, making it the world’s largest automotive exporter. Foreign automotive companies have started to collaborate with Chinese new energy vehicle enterprises. Currently, Germany’s Volkswagen has formed a strategic cooperation with Xiaopeng Motors, and Japan’s Toyota has established a joint venture with BYD. In the future, multinational collaborations will become common in this industry.
Alibaba Plans Its Logistics Unit Cainiao IPO
On September 26th, according to the Hong Kong Stock Exchange, Alibaba’s subsidiary, Cainiao Group, officially submitted its application for listing. Cainiao became the first business group under Alibaba in an IPO after the company’s restructuring. Cainiao is the world’s largest cross-border e-commerce logistics service company.
Three years ago, Alibaba’s subsidiary, Ant Group faced a significant setback after its listing failed. This Chinese internet giant encountered a major obstacle. In 2023 March, Alibaba announced the split of the company into six business groups for restructuring. Alibaba will continue to hold more than 50% of the shares of Cainiao after the spinoff. If Cainiao successfully goes public, it will undoubtedly secure its leading position in global logistics and signify the success of Alibaba’s restructure.
School Principal In China Fired For Poor Management On School Bullying
Recently, a case of a 10-year-old pupil who was bullied by his classmates has drawn outrage on Chinese social media. After days of investigation, the local authority made a statement, that the school’s principal, vice principal and teachers involved had been fired for poor management of school bullying. The two students who committed bully have been reprimanded in accordance with the law and received psychological counselling and behavioral treatment.
It happened in Datong, a city in North China’s Shanxi Province. At first, this incident gained so much attention because the bullying involved was physical or mental bullying, and sexual assault, which is beyond the imagination about how evil elementary school kids could be. Although school bullying is nothing new in China, the public is more outrageous about the Minor Protection Law in China rather than the bullying itself. This law is aimed to protect minors, therefore, it is stipulated that education should be the primary method of juvenile delinquency, and punishment should be supplemented. But with the gradual under-ageing of crimes, people complain this Minor Protection Law is becoming Minor CRIME Protection Law, which protects school bullies from punishment.