LIZHI Enters Into In-Car Audio Collaboration with WM Motor

Rhea-AI Summary

LIZHI INC. (NASDAQ: LIZI) has partnered with WM Motor, enhancing in-car entertainment for electric vehicles. The integration of LIZHI's audio product into WM Motor's W6 model marks a significant step in the development of smart travel solutions. LIZHI aims to leverage the growth in new energy vehicles and the rollout of 5G technology to expand its podcast offerings through this collaboration, providing a richer audio experience for drivers.

Positive

• Collaboration with WM Motor enhances LIZHI's product offerings in the growing electric vehicle market.
• Launch of LIZHI's in-car audio product on WM W6 model increases accessibility of audio content.
• Potential growth opportunity in the podcast industry due to the rise of electric vehicles and 5G.

Negative

• None.

GUANGZHOU, China, April 19, 2021 /PRNewswire/ -- LIZHI INC. ("LIZHI" or the "Company") (NASDAQ: LIZI), a leading online UGC audio community and interactive audio entertainment platform in China, announced today that it has entered into a collaboration with WM Motor, an electric vehicle manufacturing company in China, to integrate LIZHI's in-car audio product into WM Motor's in-car system for its electric vehicles. LIZHI's related in-car audio product has been officially launched on the WM W6 model.

WM Motor is an emerging player that provides new energy mobility solutions in China. Since its establishment in 2015, WM Motor has developed a range of electric vehicle models including WM EX5, WM EX6 Plus, and the recently launched WM W6. WM Motor aims to promote the development of smart travel through technology innovation.

Mr. Jinnan (Marco) Lai, Founder and Chief Executive Officer of LIZHI, said, "We are excited to work with WM Motor, which aims to deliver improved in-car entertainment experiences to customers through intelligent technologies. With this collaboration, we hope to bring our extensive audio content and exclusive premium podcasts on LIZHI Podcast (LIZHI BOKE in Chinese) to a wider audience."

"We believe the development of new energy vehicles may present a huge opportunity for the podcast industry, especially with the rollout of 5G internet and the development of Internet of Vehicles (IoV)," Mr. Lai added. "With our AI-empowered content distribution solutions and a wide variety of exclusive podcasts from LIZHI Podcast, we see an exciting market opportunity in cooperating with new energy automakers in China, providing more drivers with an immersive audio experience in various in-car use scenarios."

About LIZHI INC.

LIZHI INC. (the "Company" or "LIZHI") has built an audio ecosystem with a global presence consisting of audio-based social networks, podcast content portfolios and audio communities. The Company aims to bring people closer together through voices by its product portfolios. LIZHI's audio-based social networking product offering, including Tiya App, caters to users' evolving interest in social interactions in real time online and enables users to connect with friends having similar interests, entertain, chat online, and share their daily lives through voices. LIZHI also offers a vertical podcast platform, LIZHI Podcast, that provides users with curated content drawn from its extensive content library built over the years, as well as new podcasts provided by selected content creators. Since the launch of LIZHI App in 2013, the Company's flagship platform, LIZHI has cultivated a vibrant and growing online UGC audio community and interactive audio entertainment platform where users are encouraged to create, share, discover and enjoy audio, and experience immersive and diversified entertainment features through audio. LIZHI envisions a global audio ecosystem – a place where everyone can be connected through voices and across cultures. LIZHI INC. has been listed on Nasdaq since January 2020.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may", "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the Securities Exchange Commission. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

For investor and media inquiries, please contact:

In China:

LIZHI INC.
IR Department
Tel: +86 (20) 3866-4265
E-mail: ir@lizhi.fm

The Piacente Group, Inc.
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: Lizhi@tpg-ir.com

In the United States:

The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: Lizhi@tpg-ir.com

View original content:http://www.prnewswire.com/news-releases/lizhi-enters-into-in-car-audio-collaboration-with-wm-motor-301271436.html

SOURCE LIZHI INC.

FAQ

What is the significance of LIZHI's collaboration with WM Motor?

LIZHI's collaboration with WM Motor allows for the integration of its in-car audio product in WM's electric vehicles, enhancing entertainment offerings.

When was LIZHI's audio product launched in WM Motor's W6 model?

LIZHI's audio product was officially launched in the WM W6 model as part of the collaboration announced on April 19, 2021.

How does this partnership benefit LIZHI INC. and its investors?

The partnership may increase LIZHI's market reach and revenue potential by tapping into the expanding electric vehicle market and podcast audience.

What does LIZHI INC. aim to achieve with this collaboration?

LIZHI aims to deliver an improved in-car entertainment experience and expand its audience through innovative audio content in collaboration with WM Motor.