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Geely will stop building new car plants, chairman Li Shufu said, citing global overcapacity and steep price wars in China’s EV market. The company wil…

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BYD, a Chinese EV maker, produces electric cars, buses, and batteries, accelerating adoption of sustainable transportation worldwide.

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<a href="/company/geely">Geely</a> will stop building new car plants, chairman Li Shufu said, citing global overcapacity and steep price wars in China’s <a href="/industry/ev">EV</a> market. The company will redirect resources toward tech upgrades and overseas capacity use, including Renault’s Brazil site, as it pursues growth without inflating inventories or cutting margins.

<a href="/company/shein">Shein</a> has denied reports that it plans to export India-made apparel through its partnership with Reliance, stating the collaboration is limited to brand licensing and local sales. The company said it is not involved in manufacturing or overseas shipments from India.

Natural rubber prices are sliding as <a href="/industry/ev">EV</a> maker <a href="/company/byd">BYD’s</a> sharp price cuts raise fears of a broader automotive sector price war and weakening tire demand. Rubber futures fell 4% on the Osaka Exchange to a four-month low. With tires accounting for 70% of rubber use, rising seasonal supply and softening US car sales may drive further declines.

US-China trade talks will continue in London for a second day as negotiators seek to ease tensions over tech exports and rare earth supplies. The US is weighing the removal of some export curbs if China lifts rare earth restrictions. Both sides called day one productive, though curbs on <a href="/company/nvidia">Nvidia’s</a> AI chips are expected to remain in place.

<a href="/company/openai">OpenAI</a> has upgraded ChatGPT’s voice mode with more natural speech, featuring refined intonation, cadence, and emotional expressiveness. It now also supports continuous translation. Available to all paid users, the update doesn’t fully resolve known issues such as hallucinated audio or pitch variation.

Swedish <a href="/industry/ai">AI</a> startup Lovable is in early talks with US investors to raise at least USD 100 million at a valuation of USD 1.5 billion or more, according to sources. Founded in 2023, its no-code platform has reached USD 61 million in ARR and serves about 130,000 paying users. CEO Anton Osika cited strong investor interest but said funding isn’t urgently needed.

RedNote, also known as <a href="/company/xiaohongshu">Xiaohongshu</a>, has opened its first office outside mainland China in Hong Kong to accelerate cross-border business and regional growth. Invited by financial secretary Paul Chan, the company aims to support local innovation, expand across Asia, and offer talent programs through university partnerships.

Manifold Tech has raised a seven-figure RMB sum in pre-Series A funding from Hony Capital, following earlier backing from ZhenFund and Junsan Capital. The Shenzhen-based startup builds 3D spatial sensing systems for robots and drones, including Odin 1, a module that integrates perception and memory. The funds will support manufacturing and global rollout, with mass production set for July.

China has launched a three-year pilot to deploy eldercare robots in homes, communities, and institutions, aiming to ease labor shortages and improve quality of life for seniors. Backed by state ministries, the initiative includes over 200 trials and promotes standards development. By 2035, seniors will make up over 30% of the population.

<a href="/company/grab">Grab</a> and <a href="/company/goto">GoTo</a> dismissed reports of acquisition talks, refuting media claims of a potential USD 7 billion deal. Grab said it is not in discussions or agreements with GoTo, and Indonesia’s Danantara fund also denied involvement. Grab reaffirmed its focus on Indonesia, citing double-digit GMV and ride growth in April and May.

Generative <a href="/industry/ai">AI</a> firm SiliconFlow has raised a nine-figure RMB sum in a funding round led by <a href="/company/alibaba">Alibaba Cloud</a>, with follow-on investment from Sinovation Ventures, Puhua Capital, China Growth Capital, MiraclePlus, Glory Ventures, and continued backing from <a href="/company/meituan">Meituan</a>. China Renaissance acted as financial adviser. Proceeds will go toward hiring, R&amp;D, and global expansion.

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Adidas lands on Anfu Road, joining the retail mix shaping Shanghai’s storied street

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Odin 1 equips robots with a spatial memory system modeled after the hippocampus, improving navigation and mapping performance.

Memory for machines: Manifold Tech’s Odin 1 brings spatial recall to robotics

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US versus China: Who's leading the race to make AI agents a reality?

US versus China: Who&#8217;s leading the race to make AI agents a reality?

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Geely halts new plants amid glut

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Adidas lands on Anfu Road, joining the retail mix shaping Shanghai’s storied street

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