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On Monday, BYDs market value rose past RMB 1.16 trillion ($160 billion) to overtake that of CATL in mainland China for the first time in seven years, hours before the launch of its newest generation of electric vehicle platform, considered a major breakthrough for EV charging. TechNode reporting, Reuters , Wallstreetcn , in Chinese]
This week it was reported that Wynn-Williams also filed a whistleblower complaint to the Securities and Exchange Commission (SEC) in April, alleging that Facebook (now Meta) misled investors about its efforts to enter China. Mashable has reached out to Meta for comment.
Enter China's Tecno, which brought the world's thinnest smartphone (according to Tecno) to the Mobile World Congress (MWC) in Barcelona: the Spark Slim. I've spent just a small amount of time with it, but it seemed polished enough to me, so I wouldn't be surprised if it actually did hit the market at some point.
China’s energy and auto giant BYD has announced an ultrafast EV charging system that it says is nearly as quick as a fill up at the pumps. It plans to build more than 4,000 of the new charging stations across China. BYD reported it made just over 4.3 BYD’s news appeared to give Tesla a jolt on Monday, as the U.S.
As reported by The Information (paywalled article), the situation has led to demand for the China-specific RTX 5090D reaching a point where the cards are being sold on the black market. DeepSeek's industry-disrupting R1 models can efficiently run on consumer GPUs, rather than expensive AI accelerators such as the H20.
Chinas Li Auto has established after-sales and service centers in several Middle Eastern countries and set up an independent department to oversee its efforts to boost its international expansion. billion) in 2024, dragging its shares on the Nasdaq down more than 4% as of market close on March 14.
LGBTQ dating app Grindr has been removed from the Apple App Store in China, and is also unavailable on popular Android app marketplaces, Bloomberg reports. The tightening of restrictions comes ahead of China hosting the Winter Olympics in Beijing, which are due to kick off later this week. Ahead of the winter olympics.
Steam Global seems to have been banned in China, according to a report from TheGamer. Reliable Fortnite leaker and data miner Ricky Owens (aka iFireMonkey) first noticed the ban and tweeted out a screenshot of what appears to be Steam on a list of blocked websites in China. Illustration by Alex Castro / The Verge.
The People's Bank of China on its website wrote that all cryptocurrencies, including Bitcoin and Tether, are not fiat currency and cannot be circulated on the market.
READ MORE: NIO CEO says company prepared for market upheaval in 2025 Leveraging our Choco-Swap and the parallel operations of both CATLs and NIOs networks, we are able to build a smart power network that caters to a wide range of needs across multiple levels and dimensions, CATL founder and chairman Robin Zeng said in a statement.
Porsche said Tuesday it is undergoing a major restructuring in China to improve operating expense efficiency and remain agile in a highly competitive industry, following reports that it would cut about 30% of its workforce in the country. TechNode reporting , The Paper, in Chinese ]
China has seen its high-end Nvidia RTX 4080 and RTX 4090 D prices increase recently, writes IT Home. Citing reports in the Taiwanese media, it adds that this trend has now spread to other products further down Nvidia's card hierarchy, with add-in board partners set to raise prices by around 10% on average. Read Entire Article
Mozilla and Google have extended their arrangement to keep Google the default search engine within the Firefox browser until at least 2023, ZDNet reported. Illustration by Alex Castro / The Verge.
Analyst firm IDC's latest report on the state of the PC market shows total shipments in the second quarter reached 64.9 That figure would have been higher were it not for weak results in China holding the global. million, a 3% increase compared to the same period a year earlier. Read Entire Article
Oppo has become the best-selling smartphone brand in China for the first time ever, according to figures from Counterpoint Research. Counterpoint’s report says that Oppo managed to capture 21 percent of the world’s biggest smartphone market in January, ahead of Vivo and Huawei, which both achieved 20 percent.
While still small at 5%, Chinas share of the global memory chip market is growing, and market leaders SK Hynix, Samsung, and Micron should be worried. There are fewer design barriers, unique features, or proprietary breakthroughs required, and as such it is a highly price volatile market. trillion won.
For the first time ever, Huawei has shipped more smartphones worldwide over a quarter than any other company, according to a new report from analyst firm Canalys. More than 70 percent of Huawei’s devices are now sold in China, which hasn’t been hit as hard by COVID-19 as many of Samsung’s major markets. Canalys’ figure of 55.8
Chinese-backed and Africa-focused fintech platform OPay is in talks to raise up to $400 million, The Information reported today. Some of them include SoftBank, Sequoia Capital China, IDG Capital, SoftBank Ventures Asia, GSR Ventures, Source Code Capital. OPay plays in an extremely competitive fintech market.
Chinese electric vehicle maker BYD is going on a big hiring spree with plans to hire 20,000 new workers in the countrys central city of Zhengzhou during the first quarter of this year, state broadcaster CGTN reported on Friday. The firm ships vehicles from the plant to overseas markets such as Europe.
One of the biggest dealers for Audi in China has decided to part ways with the German luxury carmaker and changed course to sell electric vehicles enabled by Huaweis in-car technologies, the latest example of global automakers scaling back in the hotly competitive market. New car sales of Audi in China declined 8.5%
Tencent missed both revenue and profit forecasts in its earnings report for the second quarter as revenue fell 3% year-on-year to $19.78 It blamed the results on disruption caused by China's Covid Zero policy and strict gaming regulations.
The company was going to have little trouble filling that book, with retail demand for its shares at IPO reaching nearly $3 trillion in mainland China alone (it’s not uncommon for popular share issues to have massive oversubscription). Ant would have sported a possible market valuation of more than $300 billion at its IPO price.
Whether I’m writing about marketing, strategy, or technology, one idea always surfaces. Harvard Business Review Analytic Services recently released a report that illustrates the gap between knowing and doing. Harvard Business Review Analytic Services recently released a report that illustrates the gap between knowing and doing.
The startup market is having a moment around the world, but few regions can brag as much as Europe when it comes to venture capital investment. The data coming out of the continent is staggering: According to a Dealroom report , some €49 billion was raised by European startups in the first six months of 2021. That’s 2.9x
Apple manufacturer Foxconn has started building iPhone 11 units in a facility near Chennai in India, TechCrunch reported , the first time Apple has made one of its top-tier phones in that country. India was the second-biggest smartphone market in the world in 2019, ahead of the US and second only to China.
CoreWeaves roadshow, which began last week, received a weaker-than-expected reception as risk-averse investors in a volatile market weighed concerns over the companys long-term growth, financial risks and capital intensity, according to four sources familiar with the matter. The downsizing was first reported by Semafor on Thursday.
Apple will use Alibaba's generative AI to power artificial intelligence features for iPhones meant for sale in the Chinese market. He revealed that Apple talked to a number of other companies in China for a potential partnership, but it decided to team up with Alibaba in the end.
Toyotas first wholly-owned electric Lexus plant in China could be larger than Teslas Shanghai Gigafactory, according to since-deleted publicly available documents shared by a Chinese blogger, revealing significant details on the latest investment in China by the worlds biggest automaker.
But as my beat has become largely focused on Asia in a broader sense, and as my roles and responsibilities grew, I’ve witnessed other countries — particularly China — grow to outsized importance in terms of our coverage. It’s difficult for Japanese consumer electronics companies to compete with the sheer manufacturing scale of China.
Toyota maintained its title as the worlds largest automaker in 2024, reporting sales of more than 10.8 million cars, but its sales in China felll by 6.9% to approximately 1.8 million units due to competition from Chinese rivals, according to its earnings release. Reuters , Caixin , 36Kr , in Chinese]
Nokia has laid off around 2,000 employees, about 20% of its workforce in China, and plans to cut another 350 jobs across Europe to reduce costs, Reuters sources say. A Nokia spokesperson confirmed the European layoffs but did not comment on those in China. As of December 2023, Nokia had 10,400 employees in China and 37,400 in Europe.
Amazon has instructed some Chinese cross-border merchants selling goods on its site to stop listing lower-priced products on rival platform Temu, according to a report in the South China Morning Post today. On the one hand, it draws in consumers, as the platform markets itself with slogans such as Shop Like a Billionaire.
Chinese-backed and Africa-focused fintech company OPay raised $400 million in new financing led by SoftBank Vision Fund 2, Bloomberg reported Monday, valuing the company at $2 billion. This news comes three months after The Information reported that the company was in talks to raise “up to $400 million at a $1.5
This is a milestone for a market-wide standardization to take place in China, Yang Jun, chief executive of CATLs battery swapping arm CAES, said at a press conference in the eastern province of Fujian, where the company is headquartered (our translation). and $68.40) for the LFP variants of the #25 and #20 batteries, respectively.
Newzoo's report predicts that global gaming revenue will hit a record $203.1 billion this year while player numbers will reach an all-time high of 3.09 billion—or almost 40% of the world's population.
A new report from Endeavor Nigeria reveals that Africa’s digital economy and tech ecosystem is set to experience exponential growth periods. The report is dubbed “The Inflection Point: Africa’s Digital Economy is Poised to Take Off.”. The organization’s report intends to shed more light on Africa’s market dynamics.
Tesla is planning to introduce at least two redesigned Model Y sports utility vehicles in China next year, including a seven-seater, in what is set to be a significant revamp of its hugely popular crossover especially for the Chinese market, LatePost reported on Thursday. LatePost, in Chinese ]
Shares of Delhivery hit an all-time low of 317 Indian rupees ($3.88) Wednesday, cutting its market cap to $2.8 billion, falling below the valuation at which it raised capital from private investors in 2021, as the Indian logistics firm grapples with the aftermath of a bulk deal sale and muted growth report. million this week.
Hergenrother said the company has made the difficult decision to shift its infrastructure business, which has declined in recent years in China, to other countries closer to customers based on market opportunities. Last Friday, IBM closed the intranet access rights of its China R&D staff. Jiemian, in Chinese ]
The diminutive vehicle is made under a joint partnership between China’s state-owned SAIC Motor, Wuling Motors, and US carmaker General Motors, and is locally referred to simply as Wuling. The Hong Guang Mini EV sells in China only for 28,800 yuan, or about $4,500. The base Model 3 weighs around 3,500 pounds. It is cute, though.
Tesla has lowered the purchase price of its Model Y by $3,000, so its Long Range AWD will now cost $49,990, Electrek reported. The Model Y just began shipping in March , and earlier this month Tesla reported better-than-expected delivery numbers for all its vehicles in the second quarter, so the reason for the price cut isn’t totally clear.
Check out that valuation : YuLife pumped up its valuation to $800 million after securing $120 million in new funding, Ingrid reports. Kyle reports on Traba’s $20 million raise to match contractors with warehouse and fulfillment jobs. was faring during the global venture capital market slowdown. Startups and VC. Big Tech Inc.
The Chinese battery giant is also developing new businesses and overseas markets to counter slowing growth and fierce competition. This has created the need for a bigger cash injection, and it is pursuing a share sale in Hong Kong with banks this year, Reuters reported. CATL is set to report its full-year results on Mar.
Xpeng Motors emerged as Chinas top-selling electric vehicle startup in January, bumping long-time leader Li Auto off the top spot in the traditional low season, as the company continues to see growing demand for its budget yet intelligent cars. 1-19, according to figures from the China Passenger Car Association (CPCA).
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