LIZHI Inc (NASDAQ: LIZI) is rocketing in the market this morning, squeezing the shorts out of their shorts after the company announced that it has entered into a partnership with Xpeng Motors (NYSE: XPEV). Here’s what’s going on:
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LIZI Stock Climbs On XPEV Partnership
In the press release, LIZHI announced that it has entered into a partnership with a leading Chinese smart vehicle company, Xpeng Motors. The partmership surrounds the integration of the company’s in-car audio content product to Xpeng’s in-car intelligent operating system.
LIZI said that the product was launched this week.
The company went on to explain that the collaboration aims to accentuate the complementary strengths of both LIZI and XPEV. For LIZHI, the collaboration makes premium content offerings and AI-powered content discovery and recommendations to Xpeng Motor’s growing customer base. For Xpeng, there’s yet another reason for consumers to purchase their cars.
In a statement, Mr. Jinnan (Marco) Lai, Founder and CEO at LIZI, had the following to offer:
We are excited to establish the cooperation with Xpeng Motors which is aimed to deliver better mobility experience for Xpeng Smart EV users. 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. We will exploit this immense content base to heighten the creation of sought-after content and categories so as to deliver premium content to users in different living scenarios through our AI-empowered content distribution solutions. We are confident that our key strengths built on our advanced audio technologies, our AI-enabled content recommendation and distribution systems and massive content portfolios will add value to Xpeng Smart EV users.
We believe more and more people view the interior space of their cars as a mobile living space and we see an exciting runway to expand cooperation with leading automobile makers in China. Looking forward, our in-car audio initiatives will be important part of our strategic effort to diversify our business model to gain traction with a wider user base. We are well positioned to utilize on our strengths delivering a powerful online audio experience to users and capture growth in this emerging smart in-car audio services space.
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This Is Big News
The news released by LIZHI this morning proved to be overwhelmingly positive. After all, the partnership with Xpeng Motors will greatly expand consumer awareness and adoption of the company’s products, ultimately leading to a significant increase in revenue.
Furthermore, there couldn’t be a better time for a move like this to take place. With Joe Biden winning the recent Presidential Election, many believe that the trade conflict between the United States and China will come to an end relatively soon, further serving to bulster Chinse economic growth. That bodes well for auto manufacturers and their vendors.
All in all, LIZI will likely benefit from a significant revenue increase, and with a coming President Biden, the potential is only exacerbated. All in all, LIZI stock is one to watch closely.
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