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DeepSeek nears US$7b haul in first-ever funding round, with backing from Tencent, CATL
Chinese artificial intelligence start-up DeepSeek is finalising its first external fundraising round, securing over 50 billion yuan (US$7.4 billion) at a valuation of just under US$60 billion, according to people familiar with the matter – marking a six-fold leap from its US$10 billion valuation in April. The blockbuster round highlights intensifying global competition and a shifting strategy for the AI breakout star, which had previously resisted external capital. Market-oriented investors...
AI hyperscaler effect vaults China’s Zhongji Innolight to top of CSI 300 benchmark
AI hyperscaler effect vaults China’s Zhongji Innolight to top of CSI 300 benchmark Maker of optical modules surpasses CATL in weighting thanks to off-the-charts demand from Alphabet, Amazon, Meta and Huawei The northern Shandong province-based company had a 5 per cent weighting on the CSI 300 Index on Friday, making it the largest of the 300 most valuable stocks on the Shanghai and Shenzhen exchanges. The index’s weighting is based on the market capitalisation of free-float shares. The...
China’s new battery tech set to turbocharge EVs, energy storage
Next-generation Chinese electric-vehicle (EV) batteries that charge in minutes are expected to add fuel to global sales of the country’s carmakers. An EV battery that goes from a 10 per cent to a 98 per cent charge in under six-and-a-half minutes was the star of the Super Technology Day event staged in Beijing in April by the world’s biggest producer of batteries for EVs, Contemporary Amperex Technology Ltd (CATL). Earlier, the world’s leading EV maker, Shenzhen-based BYD, unveiled a battery...
Pentagon blacklist raises spectre of investment curbs for Chinese tech firms
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Exclusive-GM may ditch LFP batteries for future EVs
Exclusive-GM may ditch LFP batteries for future EVs SAN FRANCISCO, June 10 : General Motors may scrap plans to use a lower-cost, iron-based battery chemistry that many automakers are using to cut electric-vehicle costs, GM's head of battery technology said. The Detroit automaker had said it planned to develop lithium-iron phosphate, or LFP, batteries for use in future EV models, and would begin making those batteries in late 2027 at a jointly owned plant in Tennessee. But GM battery chief...
Chinese EVs may hit U.S. within a few years, one way or another
Chinese electric vehicles face crippling tariffs, stringent regulations and fierce opposition from lawmakers and the American auto industry, but there's a growing possibility that Chinese EVs will be sold in the U.S. within the next few years. China has deliberately and aggressively expanded its EV footprint throughout Europe, the U.K., Asia and Australia, exporting millions of well designed, high-tech, and competitively priced vehicles, building factories and widening supply chains. Now,...
Economy: why Poland is booming while eastern Germany falls behind
Eastern Germany risks falling behind, economists warn, while neighbours such as Poland are booming. What sets them apart, and what does the East need to turn things around? The 2026 Competitiveness Report for Eastern Germany warns this year that "the convergence process is in jeopardy".