China Roundup: ByteDance to set up 6 units in biz reshuffle, and more

ByteDance to set up six business units in restructure

• As part of the move, its news arm Toutiao, search engine offering Baike, and Xigua Video will be merged with Douyin, the Chinese version of short-video platform TikTok.
• ByteDance’s employee development department will be absorbed into its edtech arm Dali Education, while its work collaboration platform Lark and infrastructure-as-a-service provider Volcano Engine will become core parts of two separate units.
• The restructuring comes as ByteDance faces business development pressure amid a volatile regulatory environment.

EV major Nio sees record-low monthly deliveries in October

• The Chinese electric-vehicle maker moved 3,667 units in the month, which represents a 27.5% dip compared to its numbers in the previous year.
• Nio said it had scaled back its production during the first half of October to prepare for new model launches and restructure its production lines.
• Meanwhile, its local peers Xpeng and Li Auto delivered 10,138 and 7,649 EVs in the same month, respectively.