The leading Chinese online UGC audio platform collaborates with the Chinese EV giant for an in-car audio deal.
Shares of Lizhi Inc. (LIZI) has skyrocketed today as it signs a partnership deal with automaker Xpeng Motors. This collaboration is welcomed by the investors of the audio-based network. Xpeng is emerging as a great EV power in the country, as it continues to advance in EV market, with increasing consumer demand.
Lizhi has spiked up to 120% from the prior day close of $2.36. The trading volume is massively high as it continues to rise, currently over 140 million from an average volume of 2.2 million. LIZI is trading in a day’s range of $3.8300 – $5.1500.
As we write this at 12:16 A.M. EST, LIZI was trading at $4.80 soaring by 103.39%.
Lizhi’s cooperation with Xpeng is based on the installation of LIZHI’s in-car audio content product into the Xpeng’s electric car’s intelligent operating system. The company has just launched this in-car audio product this week.
The massive rise in LIZI’s stock shows that this deal is very meaningful for the company. This is one important step forward in leveraging its content product-line in the market. It has a big opportunity company to showcase its leading-edge technologies to audio-centric EV users.
With Xpeng’s deal, it will enhance the scope of Lizhi in the local Chinese market. Moreover, this will explore Lizhi’s pursuit of its diversified business model across a larger audience as Xpeng continues to grow.
Xpeng has increased its EV delivery up to 342% year-over-year, approximately 4,224 units in November and 21,341 for the year 2020 up-to-date. The increasing market place of Xpeng open ways for Lizhi to access a larger user base and increase its ecosystem as well.
Lizhi will provide a personalized driving experience with seamless connectivity for the Xpeng Smart EV users.
The partnership between both the firms directs to a single point with a core focus on the corresponding strengths of both Lizhi and Xpeng.
Lizhi will make its AI-empowered content discovery and premium content offerings. Also, the company will provide recommendation system services to the growing Xpeng customer base.
The CEO of Lizhi, Jinnan Lai stated:
“We believe this will strengthen our competitiveness in the in-car audio services space. As of September 30, 2020, there have been over 234 million podcasts uploaded to our platform.”
Lizhi Inc. (LIZI) wants to empower its AI-empowered content distribution solutions across wider areas in China. The key strength of the company lies in its advanced audio technologies, especially its distribution systems and AI-enabled content recommendation solutions.