LIZHI INC. Enters In-Car Audio Collaboration with Xpeng Motors

Rhea-AI Summary

LIZHI INC. (NASDAQ: LIZI) has announced a partnership with Xpeng Motors to integrate its in-car audio content product into Xpeng's intelligent operating system. This collaboration aims to enhance the driving experience for users of Xpeng's smart electric vehicles by leveraging LIZHI's extensive content library and advanced audio technologies. The initiative will allow LIZHI to reach Xpeng's tech-savvy customer base, offering premium audio content and AI-driven recommendations. This move is a strategic step for LIZHI in diversifying its business model and tapping into the growing demand for in-car audio services.

Positive

• Strategic partnership with Xpeng Motors enhances LIZHI's market presence.
• Access to Xpeng's customer base increases potential revenue streams.
• Utilization of LIZHI's extensive content library to improve user experience.

Negative

• None.

GUANGZHOU, China, Dec. 03, 2020 (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 Xpeng Motors, a leading Chinese smart electric vehicle company, to integrate LIZHI’s in-car audio content product into Xpeng Motors’ in-car intelligent operating system. The product has been launched in this week.

This cooperation marks another significant step forward for LIZHI to leverage its comprehensive content library, leading-edge technologies and strong operating capabilities in audio-centric user communities. Furthermore, it reaffirms LIZHI’s pursuit of diversified business models by tapping into the large demand for in-car audio entertainment services spanning various use cases. With seamless connectivity, LIZHI will strive to enrich the personalized driving experience for Xpeng Smart EV users.

The collaboration aims to accentuate the complementary strengths of both parties and strives for a win-win situation. For LIZHI, under the collaboration, it may make its premium content offerings and AI-empowered content discovery and recommendation system accessible to Xpeng Motors’ growing customer base comprised of tech-savvy middle-class consumers.

Mr. Jinnan (Marco) Lai, Founder and Chief Executive Officer of LIZHI, commented, “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,” Mr. Lai concluded.

About LIZHI INC.

LIZHI INC. is a leading online UGC audio community and interactive audio entertainment platform in China, with a mission to enable everyone to showcase vocal talent. The Company is aiming to bring people closer together through voice.

Since the launch of its Lizhi app in 2013, LIZHI has cultivated a vibrant and growing community encouraging audio content creation and sharing. Now LIZHI is an audio wonderland offering a wide range of podcasts and audio entertainment products and features, including audio live streaming and various interactive audio social products, empowering users to enjoy an immersive and diversified entertainment experience through audio. LIZHI envisions a global audio community – a place where everyone can create, share and connect with each other through voice and across cultures.

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
Email: ir@lizhi.fm

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

In the United States:

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

FAQ

What is the recent partnership announced by LIZHI (LIZI)?

LIZHI has partnered with Xpeng Motors to integrate its in-car audio content into Xpeng's operating system.

How will the LIZHI and Xpeng Motors partnership benefit users?

The partnership aims to enhance the driving experience by providing premium audio content and personalized recommendations for Xpeng Smart EV users.

What does LIZHI aim to achieve with its collaboration with Xpeng Motors?

LIZHI aims to diversify its business model and tap into the growing demand for in-car audio entertainment.

What technology does LIZHI leverage in its partnership with Xpeng?

LIZHI utilizes its advanced audio technologies and AI-powered content recommendation systems.

When was the partnership between LIZHI and Xpeng Motors launched?

The partnership was announced on December 3, 2020.