Reaching the age of thirty, my income randomly doubled-Chapter 494 - 299: Auto Show and Situation_3

Chapter 494: Chapter 299: Auto Show and Situation_3

Once the major foreign factories began repatriating, one can only imagine.

More and more people were forced to join low-threshold industries such as food delivery.

This is the terrifying aspect of artificial intelligence.

It is also the fiercely contested domain of leading giants like Google, Apple, and NVIDIA.

Every year, an unknown amount of money is poured into this field.

Domestically, the start of AI development was still too late, and there was also a lack of such talent.

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The core technology in new energy vehicles is still autonomous driving; despite sounding simple, it requires continuous calculations based on numerous models.

This then necessitates a lot of mathematics and top-tier talent in electronic engineering.

Such talent can only be recruited from top universities or by poaching from other major companies.

Everyone is short of top talent, while everyone is picky when it comes to average talent.

It has become very difficult for graduates from ordinary universities to enter major companies.

Academic degrees are still very useful, of course, provided they are high-level degrees.

Ordinary universities, companies like Tengfei New Energy invest hundreds of billions, and essentially don’t recruit much anymore.

According to Xu Dong, there are only two ways to make rapid breakthroughs in artificial intelligence.

One is to buy R&D teams abroad, directly acquiring other technologies that are not yet mature.

To establish their own R&D centers on-site.

The second one is to poach people from top universities, such as the well-known University of Science and Technology of China, Huazhong University of Science and Technology, and the National University of Defense Technology.

The top talents from such places are hotly contested by major companies.

The competition of the future is still fundamentally a competition for talent.

After all, many top companies are not short of money; it then becomes a matter of who has the most profound strategy.

In addition to artificial intelligence, Tengfei New Energy is still lacking some basic car manufacturing technologies.

Including chassis tuning, transmission, and drive shafts.

This was the real reason Chen Pingsheng wanted to acquire a long-established foreign car company; if the basic foundation is not solid, all aspects of intelligent driving built on it are castles in the air.

Initially, it might be flashy enough to attract some people.

Over time, various problems start to emerge.

This is also a common issue in the domestic automotive market.

Even without counting Tengde Era’s independent battery factories, Tengfei New Energy’s R&D staff had already exceeded eight thousand.

Creating a truly good car still requires more investment.

There is also a common cost-saving method, that is outsourcing.

Direclty assign the whole vehicle production to domestic car manufacturers for outsourcing.

Once the car is produced, just add some artificial intelligence and affix your own brand label.

One does not need to invest hundreds of billions in building factories, nor too much in R&D.

Chen Pingsheng himself did not trust those outsourcing factories; the reason was simple, if they themselves could not produce any good cars, how could you expect them to manufacture good cars for you?

After careful consideration, purchasing an established foreign car company was an essential step.

To completely perfect Tengfei New Energy’s foundational infrastructure technology and then further upgrade it.

Beyond that, he also needed to poach people from those top universities.

Apart from poaching, establishing research centers abroad was also a necessary step.

After all, many studying abroad simply do not wish to return and work in their home country.

He hadn’t even contemplated wanting to create a truly good car.

Investing over six hundred billion was still far from enough; almost one hundred billion in funding was needed.

Each year, the starting point for spending on R&D was twenty billion.

Perhaps only by persevering for three to five years could a moderately successful new energy technology company be nurtured.

The seven to eight billion US Dollars in his pocket suddenly seemed unappealing.

Far from enough indeed.

Chen Pingsheng returned to the Magic City headquarters; it seemed he had to continue raising money to stand firm in the tech industry.

To know, the competition in the tech field is unlike traditional industries; one faces competitive pressure from the strongest global opponents.

Not even the slightest negligence is permissible.

He still had to first figure out how to solve the talent issue, as the Magic City headquarters was becoming busier and gone were the days of idly passing time at work.

Mainly, the businesses under the Tengying Group umbrella had already touched traditional fields of food, drink, entertainment, and leisure.

The investments were countless.

Everyone was also tremendously busy in this process.

Up until now, Tengying Entertainment was still the highest market value business under Tengying Group.

With short dramas, variety shows, films, TV dramas, and investment flourishing, the market value had already reached 120 billion.

Even if counting only the shares from Tengying Entertainment, his net worth was 60 billion.

A solid first-tier tycoon nationally.

Zhang Wanyi had also returned from Manhattan. They did not hire too many staff over there, roughly just over a hundred.

Most of whom were specifically focused on keeping track of Wall Street and global dynamics.

They must transmit international major news back to the country at the earliest.

Besides repurchasing shares of Antler Coffee, the Manhattan branch’s current objective was to look globally for possible sale candidates of established car companies.

“Chen, March and April are the spring recruitment seasons in universities, and our group has been invited by sixteen top universities from Beijing-Shanghai-Guangzhou-Shenzhen. Here’s the list and schedule.”

Being invited by top universities to participate in campus spring recruitment itself reflected the solid strength of Tengying Group now.

Chen Pingsheng looked it over, which included renowned art schools like Beijing Film Academy and Shanghai Film Academy.

There were also top-tier 211 universities such as Shanghai University, Zhejiang University, and Fudan.

This year, the Group’s HR department planned to recruit an additional five thousand employees.

The majority of whom were to be assigned to businesses about to IPO like Snacks Dash, Antler Coffee, and Dream Fund.

The recruitment plan for Tengfei New Energy did not fall within this schedule.