LIZHI INC. Announces In-car Audio Collaboration with New Energy Vehicle Company ENOVATE Motors

Rhea-AI Summary

LIZHI INC. (NASDAQ: LIZI) has partnered with ENOVATE Motors to integrate its in-car audio content into ENOVATE's vehicles. This collaboration highlights LIZHI’s commitment to enhancing in-car entertainment, particularly through its vertical podcast platform, LIZHI Podcast. The ENOVATE ME5, a new energy vehicle, is set to feature LIZHI's audio product as part of its system. This venture aims to improve user experiences in the growing new energy vehicle market, marking another step in LIZHI's strategy to dominate the in-car audio space.

Positive

• Partnership with ENOVATE Motors enhances LIZHI's presence in the automotive market.
• Integration of LIZHI Podcast into ENOVATE's vehicles expected to improve user engagement.
• Focus on new energy vehicles aligns with growing market trends.

Negative

• None.

GUANGZHOU, China, March 24, 2021 (GLOBE NEWSWIRE) -- LIZHI INC. (“LIZHI” or the “Company”) (NASDAQ: LIZI), a leading online UGC audio community and interactive audio entertainment platform in China, today announced its cooperation with ENOVATE Motors (“ENOVATE”), an established Chinese new energy vehicle company, to integrate LIZHI’s in-car audio content product into ENOVATE’s vehicle system.

ENOVATE is a new energy vehicle manufacturer that develops, manufactures, sells, and provides related service of new energy vehicles in China. As an explorer of green intelligent mobility, it is committed to refining the design, quality, and intelligent experience of vehicles with innovative technology. Through the collaboration, LIZHI’s in-car audio content product will be applied to the second model of ENOVATE-ENOVATE ME5. According to public sources, ENOVATE ME5 is expected to be launched in China in the near future with pure electric model and range extended model.

Mr. Jinnan (Marco) Lai, Founder and Chief Executive Officer of LIZHI, commented, “We are excited to cooperate with ENOVATE, which is an established vehicle company dedicated to exploring future green travel solutions through innovative technology. Through this cooperation, our vertical podcast platform LIZHI Podcast (LIZHI BOKE in Chinese) will be integrated into ENOVATE’s vehicle system as an in-car audio product to provide premium podcast listening experiences to users. Leveraging the technology advantages of both LIZHI and ENOVATE, we believe that this cooperation will improve mobility experiences for users.

With the continuous development of the new energy vehicle and Internet of Vehicles industries, we believe podcast may become one of the best media formats of in-car entertainment, and the in-car listening scenario may also become an important usage scenario for podcast. The cooperation with ENOVATE marks another partnership we have achieved in the in-car audio field. In the future, leveraging our curated podcast content and AI-empowered content recommendation and distribution engines, we expect to continue strengthening collaboration with vehicle companies to reach a broader user base and further improve in-car audio experiences.”

About LIZHI INC.

LIZHI INC. has built a cross-border audio ecosystem 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 products 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.

For more information, please visit: http://ir.lizhi.fm.

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

FAQ

What is the recent partnership announced by LIZHI Inc.?

LIZHI Inc. recently announced a partnership with ENOVATE Motors to integrate its in-car audio content into ENOVATE's vehicle systems.

How will the partnership with ENOVATE affect LIZHI's business?

The partnership aims to enhance LIZHI's presence in the automotive sector and improve user experiences with in-car audio content.

When is the ENOVATE ME5 expected to launch?

The ENOVATE ME5, which will feature LIZHI's audio content, is expected to launch in China in the near future.

What audio product will LIZHI integrate into ENOVATE vehicles?

LIZHI will integrate its vertical podcast platform, LIZHI Podcast, into ENOVATE's vehicle systems.

What market trends does the partnership with ENOVATE address?

The partnership aligns with the increasing demand for innovative in-car entertainment solutions in the new energy vehicle market.