The company increased research and development by 10 percent to ensure their leading role in technology. The company also improved operation efficiency by saving cost and cutting staff members.
The company, which is building a social networking service where teenagers and twenty somethings earn points for sharing content or watching videos, landed a massive million venture capital round from venerable Silicon Valley firm Kleiner Perkins Caufield & Byers, former Microsoft CFO Greg Maffei, DAG Ventures and Live Nation. It also bought three companies in 2011, purchasing online video startup Vodpod,?social sharing service AddToAny and Twitter photo service Plixi.
The company said the project's annual smelting capacity is 2.03 million metric tons. When fully operational, the project will employ around 12,000 local people, the company said.
The company's unique products such as solar lantern with radio and mobile charging capability could provide respite to Kenya's air pollution challenges linked to rampant use of kerosene and wax candles.
The company is also teaming up with another institute which has been working on the coronavirus for over 10 years to develop a new small molecule specific drug for COVID-19. The first phase of the cooperation is in process.
The company said the Velar will be built exclusively in Britain, using Jaguar Land Rover's leading lightweight aluminum architecture, and will be powered by the latest ultra-clean UK-built Ingenium petrol engines. The new Velar is positioned between the Evoque and Range Rover Sport.
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The company said it had signed an agreement to provide customized procurement service for the Shanghai Construction Group and property management subsidiaries of China Resources Land, a property developer.
The company will check and replace the defective parts free of charge.
The company looks forward to deploying more advanced technologies in this important market, in line with its vision of a future of zero crashes, zero emissions and zero congestion, Tsien added.
The company is investigating the cause of the accident, it said.