Loans for innovation

CHINA Development Bank, a policy banks, has pledged to beef up its financial support for scientific and technological innovation during the 14th Five-Year Plan period (2021-2025).

A total of 300 billion yuan (US$45.88 billion) under a special loan program for innovation and research will be arranged for the next five years, the bank said, adding that loans worth 50 billion yuan will be offered this year. The special loan program will be mainly used for supporting fundamental research and original innovation to facilitate the implementation of strategic projects on science and technology, the bank noted.

Niu models

ELECTRIC scooter maker Niu Technologies said yesterday it would roll out its first kick-scooter model in the United States and Europe and four electric bike models as it expands its product line-up.

Niu, which makes scooters and motorcycles powered by lithium-ion batteries, sold 600,892 two-wheelers globally last year, up nearly 43 percent from 2019 sales. Niu currently makes its products in China’s eastern city of Changzhou. It is also doubling its manufacturing capacity there and will have annual manufacturing capacity of 2 million scooters.

Nissan’s vehicle sales

NISSAN Motor Co.’s passenger and light vehicle business in China increased unit sales by 70.6 percent year on year in the first three months of 2021, the company said in a statement yesterday.

The division sold 352,352 vehicles in the quarter.

Tesla Cameras

CAMERAS that are built into Tesla Inc.’s cars aren’t activated outside of North America, the electric car maker’s Beijing unit said in a statement on Weibo yesterday.

Even in the United States, vehicle owners are able to choose freely whether or not they want to turn on their cameras, Tesla said.