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More than a hardware play: Robot Era’s founder sets the record straight on the company’s true ambitions

10 mins read

Pulses

Alibaba, Meituan pour billions into subsidies

just now
Jiemian News
Alibaba’s Taobao Shangou and Meituan spent over RMB 20 billion in subsidies across recent weekends, fueling a fresh price war in China’s food delivery market. Taobao Shangou issued more than RMB 12 billion on July 12 alone, while Meituan spent up to RMB 4 billion. The surge lifted order volumes but raised concerns over sustainability and fulfillment.

Mercado Libre launches China portal

just now
Ebrun
Mercado Libre has launched an official China site to help local sellers expand into Latin America. The portal provides onboarding guides, training resources, policy briefings, and access to certified partners in ERP, logistics, tax, and IP, aiming to build a transparent and reliable service ecosystem.

China trims US debt for third straight month

just now
The Paper
China cut its US treasury holdings by USD 900 million in May, marking a third straight month of reductions while holding steady as the third largest foreign creditor. Japan and the UK increased their positions to USD 1.135 trillion and USD 809.4 billion, respectively, amid shifting global debt allocations.

Level 2 tech now in half of China’s new cars

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China Securities Journal
Level 2 assisted driving features are now in over 50% of new vehicles sold in China, the highest penetration rate globally. At a recent industry forum, experts said consolidating this lead will require smarter AI systems, deeper industry collaboration, and a faster shift to higher levels of autonomy to maintain China’s edge in smart vehicle development.

ChatGPT agent adds spreadsheets, web actions

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WSJ
OpenAI has launched a ChatGPT agent that can reportedly perform tasks like web browsing, form filling, and generating presentations or spreadsheets. Aimed at business users, it marks a major step beyond Q&A by integrating research and task automation.

Stablecoin boom masks crypto crime surge

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Chainalysis
Crypto-related thefts hit USD 2.17 billion in H1 2025, already eclipsing last year’s total despite surging stablecoin use. A USD 1.5 billion ByBit breach drove the spike, while personal wallet hacks and violent “wrench attacks” are climbing. With losses projected to reach USD 4 billion, analysts warn of escalating threats to crypto security.

China’s BRI investment hits record high

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Financial Times
China’s Belt and Road Initiative hit a new high in H1 2025, with USD 124 billion in contracts across 176 deals, surpassing the total for all of 2024. Major energy and infrastructure projects in Africa, Central Asia, and Nigeria fueled the surge. Analysts cite sluggish domestic growth and shifting trade dynamics as key drivers of China’s expanding global footprint.

Uber, Lucid partner on robotaxi rollout

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Reuters
Uber will invest USD 300 million in EV maker Lucid and deploy more than 20,000 Lucid Gravity SUVs equipped with Nuro’s autonomous technology starting in 2026. The rollout will begin in one major US city in late 2026 and continue through 2032, marking Uber’s return to the robotaxi race.

Lovable hits USD 1.8 billion valuation

just now
Bloomberg
Lovable has raised USD 200 million in a Series A funding round led by Accel, reaching a USD 1.8 billion valuation. Existing investors 20VC, ByFounders, Creandum, Hummingbird, and Visionaries Club also participated. Founded in 2023, the company builds no-code tools for app and website creation, joining a wave of “vibe coding” platforms attracting investor attention.

Meituan calls delivery price war “irrational”

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SCMP
Meituan said it had no choice but to join the subsidy-fueled price war it claims is being led by JD.com and Alibaba in China’s on-demand delivery market. Executive Wang Puzhong called the competition “irrational” and said Meituan acted to avoid appearing weak, but warned that surging order volumes don’t necessarily equate to sustainable business value.

Bangkok’s Spacely AI raises seed funding

just now
Spacely AI
Spacely AI has raised USD 1 million in seed funding to accelerate product development and launch a 2D-to-3D automation engine designed to reduce manual design work. The round was led by PropTech Farm Fund III, with participation from Wannaporn Phornprapha (P Landscape), Ted Poshakrishna Thirapatana (UTC Holdings), and Mek Srunyu Stittri (formerly from GitLab).

WeRide debuts driverless buses in Singapore

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WeRide
WeRide has begun fully autonomous minibus operations at Singapore’s Resorts World Sentosa, reportedly becoming the first in Southeast Asia to deploy shuttles without onboard safety operators. The launch follows regulatory approval, extensive safety testing, and what the company says were thousands of successful trial trips.

UBTech robot gains self-swapping battery

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IT Zhijia
Chinese robotics firm UBTech’s Walker S2 now features an autonomous hot-swappable battery system, allowing the humanoid robot to replace its power cells in three minutes without stopping or external input. The upgrade cuts downtime, lowers maintenance costs, and supports round-the-clock deployment.

China’s coffee chains eye summer boom

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Yilan Shangye
Store count across 27 tracked coffee chains in China rose to 65,468 in June, with 2,053 new outlets added. Cotti alone opened 903 stores. Cotti, Luckin, and Lucky Cup accounted for more than 80% of new openings in Q2. Ahead of summer, brands are turning to seasonal fruit flavors, health-focused formulations, and animation IP tie-ins to drive growth and engage younger consumers.

TSMC lifts outlook on AI chip demand

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Bloomberg
TSMC raised its 2025 revenue growth forecast to 30% as demand for AI chips from clients like Nvidia and AMD continues to exceed capacity. Q2 profit jumped 61%, beating estimates, while the company reaffirmed its margin targets despite headwinds from currency strength and tariff risks.

China pilots yuan expansion in Africa

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SCMP
China is using Africa as a testing ground to expand the yuan’s global role, signing recent deals in Egypt and South Africa on currency swaps, lending, and access to CIPS, Beijing’s alternative to SWIFT. Analysts say the region’s reliance on China trade and dollar scarcity makes it a practical site for early-stage pilots.

Xiaohongshu to host “Red Land” fan event

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The Paper
Xiaohongshu will host “Red Land,” its first large-scale offline event for anime and gaming fans, in Shanghai from August 8–10. The event will feature more than 50 major IPs, immersive storylines, cosplay performances, and a music festival, underscoring the platform’s push to position itself as a hub for youth interests.

US EV growth trails China’s surge

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Cox Automotive
The US set a new EV sales record in H1 2025 with 607,089 units sold, up 1.5% YoY, as Q2 rebounded slightly from Q1. Still, China sold over three million EVs in the same period, widening its lead in both domestic adoption and global exports.

Chinese EV leaders react to Model Y L

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Jiemian News
Tesla’s launch of the six-seat Model Y L drew swift reactions from Chinese EV leaders. Li Auto CEO Li Xiang called it a “worthy” pure electric SUV, while Nio CEO William Li said improving infrastructure and product innovation are driving a shift toward larger vehicle formats in China.

Shanghai tops China in vehicle exports

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Cailian Press
Shanghai exported 1.275 million vehicles through its port in H1 2025, up 13% YoY, according to customs data. It ranked first nationwide by volume. Since 2020, annual exports have risen from around 379,000 to 2.39 million, with an average annual growth rate of 58.4%.
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Insights

Meituan scrambles on “Super Saturday” as Taobao Shangou tops 80 million daily orders

A single Saturday saw Taobao Shangou, Meituan, and JD.com log a combined 200 million orders, testing subsidy strength, logistics, and supply chains in real time.

11 mins read
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