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From May 13 to June 18, over 60,000 brands on Douyin E-commerce saw YoY sales double during the 618 festival, with more than 2,000 products exceeding …

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<p data-start="334" data-end="656">From May 13 to June 18, over 60,000 brands on <a href="/company/douyin">Douyin E-commerce</a> saw YoY sales double during the 618 festival, with more than 2,000 products exceeding RMB 10 million in GMV. Live streams drove around half of total sales. Among merchants with live stream GMV above RMB 10 million, nearly 70% used store-operated streams.</p>

<a href="/company/tesla">Tesla</a> has launched an invite-only robotaxi service in Austin, offering rides in self-driving Model Ys between 6 a.m. and noon (local time) for a flat fee of USD 4.2. The pilot is limited to a fixed area and includes a front-seat safety monitor but no active driver. It marks Tesla’s first rollout of a driverless ride service after years of delays and scrutiny.

<a href="/company/nvidia">Nvidia</a> and Foxconn are in talks to deploy <a href="/industry/robotics">humanoid robots</a> at a new plant in Houston, Texas, where Foxconn will produce Nvidia’s GB300 <a href="/industry/ai">AI</a> servers, sources said. If finalized, the site would mark the first use of humanoid robots on the production line for either company.

Meta held talks to acquire Perplexity AI before moving ahead with a USD 14.3 billion investment in Scale AI, sources said. The deal fell through, and Meta has since ramped up recruitment for its “superintelligence” team, including efforts to hire Perplexity CEO Aravind Srinivas and talent from DeepMind, OpenAI, and Safe Superintelligence.

<a href="/company/tesla">Tesla</a> has signed a RMB 4 billion deal with the Shanghai government and China Kangfu International Leasing to build what it says will be China’s largest grid-side battery storage plant. The project will use Megapacks from Tesla’s Shanghai factory and marks the company’s first utility-scale deployment in the country.

<a href="/company/tiktok">TikTok</a> said it was “grateful” for the US extending its divest-or-ban deadline to September 17, allowing continued access to American users. It added that it is still working with US vice president JD Vance’s office on a deal, though analysts warn the process remains fraught with Chinese export rules and regulatory hurdles, potentially resulting in a split platform.

Anker Innovations issued a voluntary recall on June 20 for select batches of seven power bank models due to material defects in battery cells. The company has pulled affected products and cut ties with the supplier, while urging users to stop using impacted units. It plans to establish a long-term safety mechanism.

Edgnex, a unit of Dubai’s Damac Group, will invest USD 2.3 billion in a 144 MW data center in Jakarta, Indonesia, with operations expected to begin later this year. The project is part of Edgnex’s USD 20 billion global AI infrastructure push, including more than USD 3 billion committed to Southeast Asia.

<a href="/company/pop-mart">Pop Mart</a> is expanding its IP tied to "Crybaby," a character by Thai artist Molly Yllom, with new trademark filings across education, beverages, and machinery, with some approvals already granted, according to Aiqicha. The company also registered the script copyright for the first season of a Labubu animated series.

Unitree Robotics, a Chinese maker of quadruped and humanoid robots, has raised new funding from top tech investors including <a href="/company/alibaba">Alibaba</a> (and its affiliate <a href="/company/ant-group">Ant Group</a>), <a href="/company/tencent">Tencent</a>, China Mobile, <a href="/company/geely">Geely</a>, and <a href="/company/bytedance">ByteDance</a>-linked Jinqiu Capital, pushing its valuation past RMB 10 billion. The company is expanding globally and considering a Hong Kong listing.

Sanhua Intelligent Controls, a major Chinese supplier of refrigeration and air conditioning components, dropped 7% in its Hong Kong trading debut on June 23, despite backing from Jane Street Group, GIC, and Schroders. The company raised HKD 9.3 billion in a top-of-range offering and plans to invest in robotics R&amp;D, including bionic actuators, as revenue growth slows.

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Store streams fuel Douyin’s 618 sales surge

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