Meng Wanzhou’s release and Huawei’s future – TechCrunch – California News Times

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Hello, welcome back TechCrunch China SummaryA digest of recent events shaping China’s technological environment and what they mean to others in the world.

On Friday, Huawei Chief Financial Officer Meng Wanzhou was released from house arrest in Vancouver after reaching a groundbreaking agreement with the US Department of Justice. Chinese startups that announced major funding rounds this week include Daimler-backed self-driving startup Momenta, augmented reality company Nreal, and warehouse robot maker Hai Robotics.

Breakthrough trading

Meng, the daughter of Huawei founder Ren Zhengfei, agreement With the US Department of Justice, she admitted some misconduct while prosecutors postponed charges of telegraph and bank fraud against her and could dismiss the charges in 2022.

2018, Meng arrested In Vancouver, Canada, she was suspected of violating US trade sanctions on Iran. Over the years, her case has stimulated a burden on Sino-US relations. On Friday, China released two Canadians detained on suspicion of espionage when Meng left for Shenzhen, where Huawei’s headquarters are located. Beijing has repeatedly denied the link between the detention of two Canadians and the arrest of Meng.

Meng sued through a remote court appearance in a video on Friday Not guilty NS price Bank fraud conspiracy, transfer fraud, bank fraud, transfer fraud conspiracy. However, she acknowledged the basic facts supporting the DOJ’s accusation. This includes “multiple material misstatements to senior financial institution executives regarding Huawei’s operations in Iran to maintain the banking relationship between Huawei and the financial institution.”

“Huawei Technologies CFO Meng Wanzhou today admitted that he couldn’t tell the truth about Huawei’s business in Iran. As a result, financial institutions continued to do business with Huawei in violation of US law. Our prosecution team is still preparing for a trial against Huawei and looks forward to proving our case against the company in court. ” release..

Chinese media have largely omitted confirmation of fraud by Meng, and Internet users have been in a hurry to win the release of Huawei executives three years later.Within a few hours, hashtagged #MengWanzhouReturningToMotherland posts were collected. Over 1 billion views On the Chinese microblogging platform Weibo.

“We look forward to Meng Wanzhou returning home and reuniting with his family. Huawei will continue to defend the allegations in the United States District Court for the Eastern District of New York,” the company said. statement..

Mento Said The last three years since she was released have been a “destructive time” for her as a “mother, wife, and company executive.”so statement, She said that support from China at both the government and civilian levels gave her faith and continued her during the “dark moments.”

Meng’s return could boost the morale of Huawei employees, but telecommunications equipment and smartphone giants continue to suffer aftershocks caused by US sanctions. Huawei, chairman Eric Xu, sees revenue from the smartphone business declining by at least $ 30-40 billion in 2021. Friday said.. Once a global mobile phone leader, Huawei has dropped out of the top ranks and left its seat by Chinese rivals, making Xiaomi the second-selling brand in the world, overtaking Apple. In the second quarter..

In 2019, Huawei lost access to key chip components and software after the Trump Cabinet Blacklist for exports.. Since then, the company has stepped up its own efforts. Handset tip When operating system But for these technologies Proven to be difficult to obtain In a short period of time.

Funding

In other news, General Motors said it Pour $ 300 million Became an autonomous driving technology provider in China Momenta, Already counts Toyota, China’s state-owned SAIC Motor, and Mercedes-Benz AG as investors.

Participating in China’s self-driving races will require a lot of money and robotaxi start-ups will begin testing their commercial viability by deploying advanced self-driving solutions on trucks, buses and passenger cars. , Collaboration with established automobile manufacturers will become even more important.

I’ve seen Momenta’s rivals for the past year Pony.ai, We ride, When Deep route Secure hundreds of millions of dollars in funding.

NrealFounded by Magic Leap veteran XuChi, said it has raised $ 100 million for overseas expansion and development of new AR products.We are that $ 15 Million Series A Round Back in 2019, startups are reported to have reached an astonishing $ 700 million valuation at the time of the current price increase. According to CNBC.. Nreal is touting more affordable headsets. lightweight To that Western companion.

Finally, Hai Robotics, a Shenzhen-based startup that manufactures case-handling robots for warehouses, Just raised $ 200 million.. Industrial robots are in demand in China as the government demands higher efficiency to address the labor shortage in the manufacturing industry. As Huanghe, an investor focused on industrial automation, told me earlier:

Young people these days want to be food delivery riders rather than working in factories. The work that replaces robots is a less skilled type, but those that are not handed over to robots are highly paid and have great advantages.

Nevertheless, he warned that the market could overheat:

This strange phenomenon occurs in China, where the most funded and valuable industrial robot companies earn less than 30 million yuan annually, which is not often heard by real users in the industry.

In August, another warehouse robotics startup based in Shenzhen’s hardware paradise, Syrius, announced Over $ 20 Million Led by ByteDance.

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