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South China Morning Post
04-03-2025
- Automotive
- South China Morning Post
EV maker Xpeng to test autonomous driving software in Hong Kong to support go-global drive
Chinese electric vehicle (EV) maker Xpeng said it would use Hong Kong to test its artificial intelligence (AI)-powered self-driving technology, as part of its effort to expand globally and explore right-hand drive markets. Advertisement He Xiaopeng, co-founder and CEO of the Guangzhou-based company, said on Tuesday that tests of its autonomous driving system, known as Xpeng Navigation Guided Pilot (X NGP), would be conducted in Hong Kong soon, according to the Hong Kong Economic Journal. He spoke ahead of the opening of the National People's Congress, which begins Wednesday and is expected to run through next Tuesday. He is an NPC delegate. The AI-powered technology, which competes with Tesla's Full Self-Driving (FSD) driver-assistance software, will be introduced in right-hand drive markets like Thailand, he added. He did not provide a specific time frame for the company's Hong Kong testing. In a statement to the Post, Xpeng confirmed the CEO's remarks. It added that the advanced driver assistance system, which enables cars to navigate on streets and conduct self-parking, would be promoted worldwide in 2026. 'We hope that with better development and testing in the future, we can bring Xpeng's top smart driving capabilities to the world, including Thailand, other Southeast Asian markets and more countries in 2026,' it said. Advertisement Xpeng primarily builds left-hand drive models for its customers on the mainland, but it started to assemble right-hand drive models last year to compete in markets like Hong Kong and Southeast Asia.
South China Morning Post
28-01-2025
- Business
- South China Morning Post
Hong Kong tycoon Richard Li to sell HKEJ publisher to PCCW for US$9 million
Published: 7:07pm, 28 Jan 2025 Hong Kong tycoon Richard Li Tzar-kai is reshuffling his assets again, this time by selling his personal interest in the publisher of Hong Kong Economic Journal to telecommunications group PCCW for HK$70 million (US$9 million). PCCW, in which Li controls a 31.8 per cent stake, will buy the HKEJ publisher Clermont Media from an offshore trust company in which he is the settlor, according to a stock exchange filing on Tuesday. Li expects to capitalise an undisclosed amount of his loans to the publisher in the transaction, ending his direct interest since he took control of the publisher in 2006. The original cost of the acquisition was stated as US$38.5 million , according to the PCCW filing. The South China Morning Post, owned by Alibaba Group Holding, competes directly with the Hong Kong Economic Journal. The sale will end almost two decades of Richard Li's direct interest in the publisher of the Hong Kong Economic Journal. Photo: Edmond So The price tag was based on a multiple of 0.69 times revenue, using the average ratio of 0.64 times from three unnamed Hong Kong-listed industry peers, the filing showed.
