2. China used its “unreliable entity record” for the primary time ever to sanction Lockheed Martin and Raytheon over promoting arms to Taiwan. The transfer is suspected to be a response to the American blacklisting of six Chinese language entities over the “spy balloon” drama in January. (CNN)
3. Whereas the official casualty depend from China’s newest wave of covid infections is 83,150, estimates from epidemiology specialists are a lot increased, starting from 970,000 to 1.6 million. (New York Instances $)
4. Now will not be time for Chinese language metaverse believers. Each ByteDance and Tencent reported layoffs final week of their virtual-reality-related groups. (Yicai World)
5. Trip-hailing app DiDi’s comeback in China reveals the fragile steadiness between the federal government’s targets of containing Huge Tech and fostering financial progress. (Wired $)
6. ASML, the Dutch lithography machine firm, accused a former China-based worker of stealing confidential data within the final couple of months. (Bloomberg $)
7. Bao Fan, a Chinese language billionaire banker who brokered a number of the largest acquisitions within the Chinese language tech business, has gone lacking with no rationalization. (BBC)
Misplaced in translation
Constructing a charging infrastructure that may serve the quickly growing variety of EVs in China has turn out to be a difficult situation. As Chinese language publication Time Weekly reported, in the course of the Lunar New Yr interval, Chinese language EV house owners on street journeys needed to wait at freeway service stations for hours earlier than they might cost their vehicles. The identical occurred final summer time when an excessive warmth wave disabled the grid in some components of China.
At the moment, for every public charging submit in China, there are greater than 12 EV house owners who can’t cost at residence of their densely populated city neighborhoods. The dearth of public infrastructure has impressed some house owners to lease out their personal charging posts, since these posts are usually not getting used 90% of the time. The income from renting them out, which may attain over 2,000 RMB ($290) yearly, assist repay the prices of putting in them. However to date, most house owners of personal charging posts have but to appreciate that sharing is a chance: it’s estimated that solely 2.1% are shared with different EV house owners.
Another factor
With Ford saying its battery manufacturing plan with CATL, Quartz reporter Mary Hui seen a captivating historic parallel. In 2023, this deal helps the Chinese language battery big lastly break into the US market, whereas US-China relations are rocked by scandals surrounding a Chinese language spy balloon. Again in 2001, a deal between Ford and a Chinese language automaker helped the US auto big break into the Chinese language market, whereas the connection between the 2 international locations was … interrupted by scandal surrounding a US spy aircraft. Coincidence? I feel not.
