China
The latest startup and technology news coming out of China.
Nepal joins a growing list of countries banning TikTok
Another country is banning TikTok, the ByteDance-owned short video behemoth with over one billion active users around the world. Nepal, which has a population of close to 30 million people,…
Geely’s Zeekr gears up for US IPO, but China influence remains a concern
If Zeekr’s IPO goes through, it’ll be the first major Chinese listing in the country in nearly two years, following China’s effective ban of foreign IPOs.
ByteDance’s Oculus challenger Pico lays off hundreds, halts aggressive expansion
When Pico launched its Oculus Quest challenger in China last year, it did so with great optimism. Light (295 grams) and affordable ($420), the virtual reality headset released by the…
Shein has seen big swings in its price tag over the last year. The Singapore-headquartered fast fashion platform is targeting a valuation of up to $90 billion in a potential…
Why this autonomous vehicle veteran joined a legged robotics startup
Zhang Li‘s career path has looked like a bellwether for China’s tech trends. When the Cisco veteran joined WeRide in 2018, the Chinese autonomous vehicle company was less than a…
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Valued at $1B, Kai-Fu Lee’s LLM startup unveils open source model
Kai-Fu Lee, the computer scientist known in the West for his bestseller “AI Superpowers” and in China for his bets on artificial intelligence unicorns, has a new venture — and a great ambition. In late March, Lee launched a company called 01.AI with the vision to develop a homegrown large language…
Chinese EV darling Nio to cut 10% staff amid ‘fierce competition’
Nio, the Chinese carmaker known for its sleek, premium electric SUVs, has started a new round of layoffs as intense competition propels it to cut costs and regroup resources. In…
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Lawmakers say Costco’s decision to continue selling banned China surveillance tech is ‘puzzling’
Two U.S. lawmakers have asked retail giant Costco why it continues to sell surveillance equipment made by Lorex, despite warnings of cybersecurity risks and links to human rights abuses. The bipartisan letter dated October 31, sent by Rep. Christopher Smith (R-NJ, 4th) and Sen. Jeff Merkley (D-OR), said Costco’s continued…
China’s tech vice minister calls for ‘equal rights’ at global AI summit in UK
Despite the ongoing technological decoupling between China and the West, both sides are converging to discuss the threat that runaway artificial intelligence may pose to humanity. Wu Zhaohui, China’s vice…
Shein adds struggling UK brand Missguided to its fashion empire
Shein, the fast fashion giant that has thrived on its nimble supply chain in China, is expanding its product range by scooping up competitors. In a statement released on Monday,…
XPeng starts removing HD maps from Tesla FSD-like feature in China
XPeng is often called the Chinese challenger to Tesla for its efforts to bring advanced driving capabilities to its electric vehicles. It’s now getting a step closer to its American…
Pony.ai gets $100M, establishes JV with Saudi Arabia’s Neom
Chinese autonomous vehicle startup Pony.ai has scored $100 million from Neom, Saudi Arabia’s futuristic city and development project. As part of the deal, the two plan to establish a joint…
Coach’s knitwear supplier bets $1M on Jellibeans’ fashion prediction tech
In fashion design, success is often determined by talent, hard work and a sprinkle of luck. In the era of big and artificial intelligence, however, fashion design has become somewhat…
Two years after pausing service, Roblox China cuts a small number of staff
Roblox China was once full of promise. Since its localized platform, which is a joint effort with Tencent, abruptly halted operation nearly two years ago, the company has been quiet…
It’s become increasingly evident that two parallel AI universes are forming between the U.S. and China. While the U.S. has spawned notable players like OpenAI and Anthropic, China has its…
SynFutures raises $22 million Series B, bucking ‘crypto winter’
Amid a global slowdown in venture investments for crypto projects, some companies continue to buck the trend. SynFutures, a decentralized crypto derivatives exchange, has completed a $22 million Series B…
In August last year, a ban on Nvidia’s chip export to China sent the country’s budding artificial intelligence startups scrambling for alternatives. A momentary sense of relief came when Nvidia…
Didi’s autonomous vehicle arm raises $149M from state investors
When Didi created an autonomous vehicle subsidiary in 2020, the venture was seen as a Chinese counterpart to Uber’s AV unit. The tides of change have since swept across China’s…
WM Motor’s bankruptcy highlights challenges faced by EV startups in China
Chinese electric vehicle startup WM Motor has filed for bankruptcy reorganization, an example of yet another once-promising EV upstart that has been pushed to insolvency as bigger players gain market…
TabbyML, an open source challenger to GitHub Copilot, raises $3.2 million
The race to create AI assistants that help humans write computer code is heating up. TabbyML, built by two ex-Googlers, has secured $3.2 million in seed funding to work on…
Waymo-Zeekr robotaxi poised for US testing by end of 2023
Nearly two years after Waymo and Geely struck a deal to develop robotaxis for the U.S. market, we are seeing concrete progress in the collaboration. According to a job post…
Consumer brand accelerator SuperOrdinary gets $58M Series B at $800M valuation
The average shopper probably hasn’t heard of SuperOrdinary, but if they are a beauty or skincare fan, they’ve definitely heard of some of the brands the startup works with: Olaplex,…
Telegram, the popular messaging app with 800 million monthly active users worldwide, is inching closer to adopting an ecosystem strategy that is reminiscent of WeChat’s super app approach. Certain aspects…
Ford halts work on $3.5B EV battery factory with China’s CATL
Ford confirmed Monday it has immediately stopped work at a $3.5 billion factory in Michigan that was supposed to make cheaper lithium iron phosphate batteries using tech from China’s CATL.…
GGV splits off China business following congressional panel probe
GGV, the 23-year-old U.S. venture capital firm with a storied track record in China, is splitting into two branches as escalating geopolitical tensions continue to push for decoupling between the…
EU considers imposing tariffs against Chinese EV companies
The European Commission is considering imposing punitive tariffs to protect European Union automakers against cheaper Chinese electric vehicle imports, which the agency says benefits from state subsidies. “Global markets are…
The Polestar 4 will launch in China with its own smartphone
Polestar, the Swedish EV maker owned by China’s Geely Holdings, plans to launch a smartphone alongside its upcoming SUV the Polestar 4. CEO Thomas Ingenlath shared the company’s smartphone plans…
MetaMask now allows crypto cash-out to PayPal and banks, but fees could be high
MetaMask, the world’s biggest self-custodial hot (internet-connected) wallet with over 22 million users, has added the option for users to convert cryptocurrencies into fiats like USD, as a growing list…
China reportedly bars some government officials from using iPhones
China has made a massive move of barring central government officials from using iPhones at work, part of its grand plan to restrict foreign influence as its relationship with the…
Alibaba-backed autonomous driving darling Deeproute sets sight on Europe carmakers
Deeproute.ai, the Shenzhen-headquartered robotaxi startup with $350 million in funding and over 500 employees worldwide, is aiming to open an operations center in Germany in 2024. The move will make it yet…
