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Gotion High-tech has reportedly abandoned plans for a USD 2.4 billion EV battery materials plant in Michigan following political and local opposition over its Chinese ownership. State officials said no grant funds were disbursed and will seek repayment of USD 23.6 million spent on the site, though Gotion denies fully withdrawing from the project.

Neolix, an autonomous driving tech company, has raised over USD 600 million in a Series D funding round led by UAE-based Stone Venture, with participation from a slate of other key investors. The company said it will use the funds to support algorithm upgrades, product innovation, commercialization, and international expansion.

<a href="/company/meituan">Meituan</a> plans to issue USD- and RMB-denominated senior notes to professional investors, with pricing to be determined through bookbuilding led by Goldman Sachs, Merrill Lynch, and CLSA. The proceeds will be used mainly to refinance offshore debt and for general corporate purposes.

<a href="/company/meituan">Meituan</a> has released LongCat-Video, an open-source video generation model that reportedly achieves state-of-the-art results in text-to-video and image-to-video tasks. Trained on native video continuation, it enables coherent minute-long generation and marks Meituan’s first step toward a “world model” for embodied <a href="/industry/ai">AI</a> and autonomous driving.

<a href="/company/nio">Nio</a> has completed more than 90 million cumulative battery swaps as of October 26, backed by over RMB 18 billion in investments in charging and swapping infrastructure. The company now operates 8,307 stations across China.

Seres Group plans to raise up to HKD 13.2 billion in a Hong Kong IPO, offering 100.2 million shares at a maximum price of HKD 131.5 each. Backed by <a href="/company/huawei">Huawei</a>, the <a href="/industry/ev">EV</a> maker said it will use the funds for technology R&amp;D, manufacturing upgrades, and overseas expansion ahead of its November 5 listing.

Former <a href="/company/alibaba">Alibaba</a> vice president and Tmall Genie president Peng Chao has founded a startup to develop a sports-focused wearable device powered by agentic <a href="/industry/ai">AI</a>. The company aims to integrate hardware with adaptive intelligence to create self-evolving and personalized user experiences.

Faraday Future has launched Faraday Finance after completing its automotive finance license filing in California to support sales of its FF and FX models. The company said this new unit will offer customized financing and leasing options, improve vehicle affordability, and establish a foundation for an integrated financial ecosystem.

<a href="/company/tencent">Tencent’s</a> <em>Honor of Kings</em> reached 139 million daily active users and more than 260 million monthly active users worldwide as of October 26. The milestone surpasses its 2024 record of 100 million DAUs and sets a new global benchmark for MAUs in gaming.

US President Donald Trump said he is confident of reaching a deal with Chinese leader Xi Jinping after officials from both sides reached a preliminary consensus during October 26 trade talks. The two leaders are expected to meet to discuss tariffs, rare earth export controls, and a possible trade truce extension.

<a href="/company/didi">Didi</a> has launched a fleet of 500 <a href="/industry/ev">EVs</a> in Mexico, marking its first standardized premium ride-hailing service in Latin America. Featuring Chinese brands GAC Aion and JAC, the initiative supports Didi’s goal to deploy 100,000 EVs in Mexico by 2030 and reduce carbon emissions by more than 500,000 tons.

Priced just under USD 30,000, Unitree’s H2 reflects a maturing humanoid robotics market where accessibility may determine the winner.

Unitree’s new H2 brings “streamlined elegance” to humanoid robotics

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Gotion scraps Michigan factory plan

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