Search results for Hefei
Mobility
Volkswagen begins Level 3 autonomous driving road tests in China, targets commercialisation in 2027
Volkswagen Group has begun public-road testing of Level 3 autonomous driving technology in China, aiming to commercialise autonomous vehicles in 2027. Volkswagen Group China said it obtained a road-test permit in Hefei, Anhui province, enabling real-world driving tests and large-scale data collection. The software is being developed by local joint venture CARIZON, founded by CARIAD and Horizon Robotics. The company said the permit does not amount to sales approval.
Industry
China\'s CXMT advances next-generation DRAM design, sending global memory stocks lower
Chinese memory chipmaker ChangXin Memory Technologies (CXMT) disclosed progress in next-generation memory design, unsettling global memory-related stocks. Investors sold shares of Samsung Electronics, SK Hynix and Micron amid concerns China’s technology catch-up may accelerate. CXMT cited advances in a new memory-cell architecture based on 4F-squared design aimed at higher density. Its market share has risen, but hurdles remain, including U.S. export controls and limited access to EUV equipment.
AI & Enterprise
DeepSeek nears fundraising at 500 billion yuan valuation, prepares for 2027 IPO
Chinese artificial intelligence startup DeepSeek is in the final stage of raising new funding based on a valuation of about 500 billion yuan. The company is seeking around 50 billion yuan, with the round expected to close by late August, the South China Morning Post reported. The fundraising aligns with listing preparations, with sources saying it may file by year-end and target a 2027 debut. DeepSeek has raised API prices amid intensifying competition.
