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… firms, a merger or some form of partnership will be necessary for survival."
This article first appeared on <a href="https://asia.nikkei.com/Business/Automobiles/Electric-vehicles/BYD-price-bombshell-raises-specter-of-wider-China-EV-consolidation">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing partnership with <a href="https://www.kr-asia.com/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/">Nikkei</a>.

BYD price bombshell raises specter of wider China EV consolidation

East Asia

China

Transportation

Electric Vehicles

Mobility

… src="https://console.kr-asia.com/wp-content/uploads/2025/06/Joyin-W-Bot.jpg" alt="Photo of the W-Bot." width="360" height="450" srcset="https://console.kr-asia.com/wp-content/uploads/2025/06/Joyin-W-Bot.jpg 1080w, https://console.kr-asia.com/wp-content/uploads/2025/06/Joyin-W-Bot-576x720.jpg 576w, https://console.kr-asia.com/wp-content/uploads/2025/06/Joyin-W-Bot-819x1024.jpg 819w, https://console.kr-asia.com/wp-content/uploads/2025/06/Joyin-W-Bot-768x960.jpg 768w" sizes="(max-width: 360px) 100vw, 360px" /><figcaption id="caption-attachment-154334" class="wp-caption-text">Photo of the W-Bot. Photo source: Joyin via 36Kr.</figcaption></figure>
<h3>Emotionally aware robots?</h3>
<a href="https://kr-asia.com/deepseeks-r1-sparks-global-ai-upheaval-with-low-cost-brilliance">The release of DeepSeek-R1</a> was a turning point for Joyin’s product direction.
“This was the best thing to happen to me in 2025,” Guo said.
Models like DeepSeek-R1 offer major gains in inference capability. When integrated into a robot’s processor, they enable smarter decision-making and task execution, which are crucial for a field still early in its technical arc.
As part of its roadmap, Joyin is also developing an open robot platform for developers, students, and researchers. The idea is to let users shape the product from the outset. That means letting users swap in sensors, adjust software, and tailor the robot’s behavior to suit different home environments.
Guo believes reinforcement learning will be a key differentiator. In older systems, even basic actions like waving a toy for a cat had to be pre-programmed by engineers. With reinforcement learning, users can teach robots new behaviors more intuitively. The robot can then plan and complete those actions independently.
This also gives the user a more intimate, human-like experience. By spending time in the home and absorbing contextual cues, the robot can start to respond in more personalized ways.
Guo stressed that when Joyin talks about “human-like design,” it’s not chasing the humanoid ideal of robots folding laundry or making dinner. Instead, it’s about emotional resonance: building a presence that feels comforting. This sets Joyin apart from many startups focused on perfecting humanoid tasks. Rather than competing on technical mastery, Guo is betting on emotional connection.
As an example, Joyin’s first robot might not even have voice functions. “Even if it only uses body language and screen visuals, it can still convey emotional presence,” Guo said. The priority is trust and companionship. Other features can come later.
To support that goal, Joyin is co-developing emotion- and consciousness-mimicking models with its large model partners.
The first step is building a bond. Once that happens, users naturally offer more context. From there, the robot learns autonomously, and the open platform allows for continuous expansion.
Still, Guo is pragmatic:
<blockquote>“Right now, we have to make money while feeding the dream.”</blockquote>
In just six months since its founding, Joyin has completed a working product demo. Both its team and strategy are evolving rapidly.
It’s been only six months since the company was founded, and already the product demo is done. Both the company and its strategy are evolving at warp speed.
“When we think it’s the right move, we go for it,” Guo said. “But we also admit we could be wrong. The real question is: can we iterate and adapt fast enough to get closer to the vision?”
That vision? Making robots a real part of family life.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3309355470936577">article</a> was written by Deng Yongyi for 36Kr.

Joyin races to rewire homes with emotionally aware robots

Deep Tech

In 2020, <a href="/company/tesla">Tesla</a> introduced its 4680 large-format cylindrical battery, featuring tabless and dry electrode technologies. At the time, it was positioned as a major step forward in <a href="/industry/ev">electric vehicle</a> battery design.
Since then, demand for faster charging has grown across the EV industry. Batteries rated for 4C, 6C, and even 12C charging capabilities—mainly prismatic aluminum-shell and pouch cells—have entered the market. In comparison, development of large-format cylindrical cells like the 4680 has slowed.
Cylindrical structures are less effective at heat dissipation than prismatic or pouch designs, limiting fast-charging performance. Thermal management remains a key challenge. While prismatic cells continue to advance in ultrafast charging, cylindrical cells have yet to match that pace. This lag, combined with production inefficiencies and lower-than-expected yield rates, has led to increasing skepticism. Some in the industry have questioned whether large-format cylindrical cells remain viable.
Talent New Energy is working to address that concern. The company recently unveiled its “cold core” battery technology, developed through coordinated changes in structure, materials, and manufacturing processes.
On the structural side, Talent’s axial-through design tackles the core thermal issue by directing heat outward from the center of the cell. Two configurations are offered: semi-through holes and full-through holes. Both are built on conventional bottom-side liquid cooling. The semi-through version uses a single-sided tab and increases heat exchange surface area by 17–20%. The full-through version routes both tabs to opposite ends, creating a thermal pathway that reduces heat accumulation at the center.
The cold core battery tech also integrates axial and bottom-side cooling, effectively installing a cooling mechanism inside the cell to address longstanding thermal bottlenecks in cylindrical formats.
Material innovations complement this structural redesign. Modified cathode coatings are applied to enhance ion transport and create a three-dimensional conductive network to reduce resistance. The anode uses isotropic graphite and a multi-layer coating process to smooth lithium-ion flow. These adjustments aim to improve charge and discharge speeds without compromising safety.
Talent also introduced new manufacturing processes. An annular welding technique is utilized to improve connections between the tab, current collector, and casing, reducing internal resistance. To prevent electrode loosening during winding, a spool reinforcement process keeps layers compact, which helps maintain performance over time.
The battery’s production system is said to be modular and flexible, supporting different material systems and allowing for shared processes across models. This setup is intended to reduce costs and accelerate mass production readiness.
Talent’s 4695 and 50190 series cells, which use the cold core architecture, have reportedly shown improved charging speeds and environmental resilience. They support 6C fast charging, reaching 80% charge from 10% in about nine minutes, and maintain stable output in temperatures ranging from minus 30 to 55 degrees Celsius.
By aligning structural, material, and process improvements, Talent’s cold core battery tech offers a potential path to resolving the thermal and fast-charging limitations of cylindrical cells. With more than 30 related patents filed, the company seeks to position this technology as a competitive option in the evolving battery landscape.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3314534784100104">article</a> was written by Han Yongchang for 36Kr.

Can cylindrical EV batteries make a comeback? Talent New Energy thinks so

Batteries

Energy

… than in Jinan, with meat dishes sometimes priced RMB 3–4 (USD 0.42–0.56) higher. A plate of spicy shredded potatoes goes for RMB 2 in Jinan, but RMB 3 in Beijing. Celery and pork stirfry is RMB 4 and RMB 5, respectively. The differences are modest, and customer reviews on Dianping consistently praise the meals as “incredibly cheap.”
“Running at low margins is part of our DNA,” said assistant general manager Song Yefei at the launch of the first Beijing store. “We know labor, rent, and logistics cost more here. That just means slimmer profits, but we’ve never pursued high margins.”
Chaoyixing kept its formula intact. According to Beijing general manager Li Hongpeng, the rollout prioritized four areas: selecting locations near subway stations and residential neighborhoods; upgrading store design to feel cleaner and brighter; spotlighting its braised pork in the layout; and transferring roughly 70% of staff from Shandong to uphold service quality.
The approach appears to be working. In just over a year, Chaoyixing has opened more than 30 stores in the capital. “Despite higher wages and rents, the brand has held pricing steady,” Sun said. “That shows its cross-regional potential.”
Most investors and restaurant founders agree: in foodservice, the only lasting moat is scale.
Sun believes high-spending customers may drive bursts of early traction, but they tend to be fickle. Value-focused diners, though less reactive to marketing, are more loyal once won over. They also represent the mainstream in today’s market, and Chaoyixing caters to them exceptionally well. Such brands may not go viral, but they scale consistently. And once they do, their edge is hard to match.
Chaoyixing is already pushing farther afield. Beyond its strongholds in northern and central China, it opened a store in Xuzhou, Jiangsu in 2024 and is piloting operations in Xiamen, Fujian. But expanding comes with new complexities: regional taste preferences vary, and longer supply chains increase operational friction. Early reviews from Xuzhou have been mixed.
As Chaoyixing moves into unfamiliar territory, it faces the same test confronting every aspiring national chain in China: how to maintain consistency, efficiency, and value while learning to speak the local culinary dialect.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3302055241587464">article</a> was written by Ren Cairu for 36Kr.

Call it China’s Saizeriya: Chaoyixing scales fast food with low costs and margins

Retail

Consumer Economy

… headlines:</h3>
<ul>
<li aria-level="1">GridCare, a Singapore-based startup optimizing energy access for data centers, raised USD 13.5 million in an oversubscribed seed funding round led by Xora, a deep tech fund backed by Temasek. Other backers include Aina Climate AI Ventures, Sherpalo Ventures, Breakthrough Energy Discovery, and several unnamed investors.</li>
<li aria-level="1">Airwallex, a global business financial platform, secured USD 300 million in a <a href="https://kr-asia.com/airwallex-raises-usd-300-million-eyes-ipo-readiness-and-ai-led-finance">Series F funding round</a>, including USD 150 million in secondary share sales. Among the participants were Square Peg, DST Global, Lone Pine Capital, Blackbird, Airtree, Salesforce Ventures, Visa Ventures, and multiple Australian pension funds.</li>
<li aria-level="1">Every Half Coffee Roasters, a Vietnamese specialty coffee chain, reportedly raised USD 3 million in a pre-Series A funding round co-led by Openspace Ventures and DSG Consumer Partners.</li>
</ul>
If there are any news or updates you'd like us to feature, get in touch with us at: <a href="mailto:hello@kr-asia.com">hello@kr-asia.com</a>.
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Deals in brief: RadNet acquires See-Mode, Syfe raises additional Series C funding, latest China deals, and more

Venture Capital

Private Equity

Investment

Merger &amp; Acquisition

Singapore

Australia

Southeast Asia

India

Oceania

… partnerships. Its global strategy combines technical consulting, hardware distribution (including complete lines and parts), and ongoing operations and maintenance. Typically, Botree begins by supporting local factory setup, then transitions into a long-term operational role.
Across engagements, the firm seeks to balance commercial returns with sustained R&amp;D investment, even amid the unpredictability of global expansion.
The latest funding could also support strategic synergies, such as insurance coverage for new energy vehicles or collaborations with Chinese energy companies operating abroad. Botree’s long-term goal is to localize solutions for diverse regulatory environments, then reintegrate the most effective elements across markets to keep advancing the battery recycling sector globally.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3321557828774404">article</a> was written by Zhang Bingbing for 36Kr.

China’s Botree raises more funding to expand its battery recycling footprint

Syfe, a Singapore-headquartered digital wealth platform, has raised USD 80 million in Series C funding to expand its operations across the Asia Pacific. The round includes USD 53 million in new equity (Series C2) added to the USD 27 million it secured in August 2024 (Series C1), bringing the company’s total funding to USD 132 million.
The latest tranche was led by two UK family offices, with continued participation from existing investors Unbound and Valar. The capital comes at a time when investor activity is reportedly muted. According to Syfe, the first quarter of 2025 marked the region’s lowest funding levels since 2014, making the backing an indicator of confidence in its model and positioning.
The raise follows <a href="https://kr-asia.com/deals-in-brief-syfe-bids-for-asx-listed-selfwealth-malaysias-kmp-backs-swift-bridge-softbank-in-talks-to-acquire-chipmaker-ampere-and-more">Syfe’s acquisition of Selfwealth</a>, one of Australia’s largest listed investment platforms. <a href="https://kr-asia.com/deals-in-brief-temaseks-heliconia-backs-sin-chew-woodpaq-supabase-raises-series-d-funding-syfe-and-anymind-confirm-acquisitions-and-more">Finalized in May after shareholder approval</a>, the deal gives Syfe a broader user base and reinforces its position in a market that aligns with its focus on the “mass affluent,” which it broadly defines as individuals with six- to seven-figure USD sums in investable assets.
“This fund raise comes at an exciting time as we grow our presence across the region and expand our offerings,” said Dhruv Arora, Syfe’s founder and CEO. “In our markets of Singapore, Hong Kong, and Australia, nearly half of all adults are in the ‘mass affluent’ segment, and this segment is growing fast.”
Syfe said its total assets under management now exceed USD 10 billion, with its Hong Kong operations having doubled in size since the start of the year. The company plans to use the new capital to scale its reach, enhance the overall customer experience, and invest in artificial intelligence to build tools for both client and internal use.
To support these efforts, Syfe has made several key hires, including Sanjeev Malik, formerly of BlackRock, and Dane Ricketts, now vice president of marketing, who previously held senior roles at Procter &amp; Gamble and Grab. These additions signal Syfe’s push toward deeper operational maturity while maintaining a technology-first ethos.
Founded in 2019, Syfe operates on what it describes as a three-pillar approach: access, advice, and affordability. Its offerings span managed portfolios, cash solutions, and brokerage services, all delivered via a unified digital platform. In Singapore, the firm says more than 8% of adult citizens use its platform to manage their finances.
Licensed and operating in Singapore, Hong Kong, and Australia, Syfe reportedly serves customers in over 60 countries. It collaborates with firms such as BlackRock and PIMCO and continues to develop proprietary investment products tailored to regional needs.
“Built in the region, for the region,” is how Arora characterizes Syfe’s mission. With fresh capital in hand and Selfwealth’s integration underway, the company’s next challenge is to establish staying power in an increasingly competitive digital wealth landscape.

With USD 80 million in funding, Syfe sets sights on APAC’s “mass affluent”

Bolttech has wrapped up its Series C funding round with USD 147 million in total investments, bringing new investors into its cap table and reaffirming a USD 2.1 billion valuation. The Singapore-headquartered insurtech company said on June 4 that Sumitomo Corporation and Iberis Capital joined the round, expanding the geographic and sectoral breadth of its investor base.
Sumitomo, one of Japan’s largest trading houses, is also entering a joint venture with Bolttech to deliver embedded insurance offerings and related services across Asia. Lisbon-based Iberis Capital, meanwhile, is adding Bolttech to its portfolio of European and global technology investments, with a focus on embedded insurance infrastructure.
The new investors join existing Series C participants Dragon Fund (a partnership between Liquidity and MUFG), Baillie Gifford, and Generali’s Lion River. Their involvement was <a href="https://kr-asia.com/deals-in-brief-bolttech-raises-series-c-funding-catcha-digital-to-acquire-stakes-in-tastefully-and-drive-2-digital-latest-china-deals-and-more">initially disclosed in December 2024</a>, when Bolttech announced it had raised over USD 100 million. The final tally brings Bolttech’s total Series C proceeds to USD 147 million.
Bolttech, which reportedly operates in 37 markets across Asia, Europe, North America, and Africa, describes itself as a platform that connects insurers, distributors, and customers. Its API-based model enables the delivery of embedded insurance, integrating coverage into consumer journeys via digital channels and partner ecosystems.
Proceeds from the round will be used to strengthen the company’s technology platform and support its international expansion, according to a company statement. Bolttech also plans to enhance the personalization and accessibility of its insurance offerings.
“Bolttech has emerged as a leading embedded insurtech player spanning a global footprint in a short amount of time,” said Luis Quaresma, partner at Iberis Capital. “We look forward to contributing to its next phase of growth, supporting the continued advancement of its unique solution.”
Embedded insurance is gaining attention as financial services increasingly incorporate coverage into broader transactional experiences. Bolttech is one of several firms building white-labeled infrastructure that allows insurers and platforms to offer integrated protection at scale.
The latest capital injection represents a step toward expanding Bolttech’s global footprint and bolstering its position as a technology partner for embedded insurance. With backing from investors in Asia and Europe, the company is anchoring its strategy on collaboration, aiming to meet rising demand for simpler, tech-driven protection products across borders.

Bolttech closes Series C round, adds Sumitomo and Iberis to investor mix

Insurance

Southeast Asia sought to strengthen trade ties with China and the Gulf states in a landmark trilateral summit on May 27 in Kuala Lumpur, aimed at enhancing economic cooperation in response to sweeping US tariffs imposed by President Donald Trump.
Leaders from ASEAN, China, and the Gulf Cooperation Council (GCC) plan to form a regional business council to support "enhanced trade and investment flows" and the development of regional value chains, according to a joint statement released Wednesday. The GCC comprises Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE.
The document added that parties will promote "high quality cooperation under [the] Belt and Road Initiative (BRI) and seamless connectivity," including through the development of logistics corridors and digital platforms. The three will also collaborate on training and capacity building in nuclear safety, reactor technology and regulatory frameworks.
China was represented by premier Li Qiang while the GCC states sent crown princes, senior ministers, and other officials.
In his opening remarks at the ASEAN-GCC-China summit, Malaysian Prime Minister Anwar Ibrahim, the meeting's host, described the ties among the three as "deep and enduring," rooted in a long shared history.
"From the ancient Silk Road to the vibrant maritime networks of Southeast Asia to modern trade corridors, our peoples have long connected through commerce, culture and the sharing of ideas," Anwar said. He added that the relationships reflect both "immense existing linkages as well as substantial untapped potential."
Li echoed Anwar's remarks, emphasizing the deep historical ties that underpin Beijing's current BRI. Amid an "increasingly complex international environment and a sluggish global economy," he said, the summit offers a chance to "jointly create a model of global cooperation and development for this era."
According to officials, China and several other countries proposed exploring the inclusion of the GCC in the Regional Comprehensive Economic Partnership (RCEP), the 15-member trade pact that includes China and ASEAN. In response, ASEAN said it will conduct feasibility studies on the GCC's potential entry into RCEP in addition to a separate trade agreement between ASEAN and the Gulf states.
During the meeting, China and several countries expressed "disappointment" over the recent US tariffs, highlighting growing concerns over rising protectionism, officials said. However, there was no indication of any plans to retaliate, as ASEAN leaders reaffirmed their commitment to open trade and a non-confrontational approach.
Analysts say US protectionism is reshaping global trade ties, accelerating China's pivot to Southeast Asia and prompting ASEAN to double down on alternative partners.
Ilango Karuppannan, a former Malaysian diplomat and foreign policy analyst, said the inaugural summit reflects a broader global realignment. While the US still leads in financial flows and institutional clout, its dominance is gradually waning, he said.
"China's trade footprint continues to expand, and the GCC—armed with sovereign wealth and strategic energy exports—is building lasting economic linkages in Asia," Ilango told Nikkei Asia. He added that while ASEAN seeks US investment, it must also remain open and agile within global supply chains.
"The real challenge lies in managing this balance without being forced into binary alignments," he said.
After holding its first summit with the GCC in 2023, ASEAN has welcomed its largest trading partner, China, to join discussions for the first time, in a sign of ASEAN's growing desire to broaden its trade ties beyond those with the US
The sense of urgency has only grown since Trump's tariff rollout in April, which targeted regional economies. Cambodia was hit hardest with a 49% import duty, followed by Laos at 48% and Vietnam at 46%. While the bloc benefited from supply chain shifts out of China during Trump's first term, they became vulnerable as their trade burgeoning surpluses with the US put them in Trump's tariff crosshairs.
In response, export-reliant ASEAN economies are looking to hedge against the US, leaning on China's established trade channels and the deep pockets of Gulf nations, which share longstanding ties with Muslim-majority members like Malaysia, Indonesia, and Brunei.
ASEAN's trade with China and the GCC has been growing steadily. In 2024, the combined volume exceeded USD 900 billion, nearly double the USD 453 billion in ASEAN-US trade, according to ASEANstats data. Since the start of Trump's first term in 2017, the bloc's trade with China and the GCC has grown by USD 375 billion, outpacing the USD 220 billion rise in trade with the US
Combined, ASEAN, China, and the GCC represent more than 20% of the world's GDP and a market with a 2.15 billion-strong population. Tricia Yeoh, associate professor at the University of Nottingham Malaysia, said the GCC's size and spending potential are turning it into a promising trade partner for ASEAN.
Separately, the ASEAN leaders confirmed that East Timor will be formally admitted as the bloc's 11th member at their October summit.
This article first appeared on <a href="https://asia.nikkei.com/Politics/International-relations/ASEAN-tilts-toward-China-and-Gulf-states-as-Trump-tariffs-bite">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing partnership with <a href="https://www.kr-asia.com/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/">Nikkei</a>.

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