Latest news with #Guangzhou-based
Borneo Post
3 days ago
- Automotive
- Borneo Post
China's driverless tech finds new traction on global roads
This photo taken on April 17, 2025 shows a WeRide Robobus (front) operating at an airport in Zurich, Switzerland. (Xinhua) GUANGZHOU (June 30): Driverless sedans glide smoothly to the curb, autonomous shuttles whisk travelers through airport terminals, and robotic sweepers hum along busy streets. These once-futuristic scenes are fast entering everyday life across the globe, and many of them are powered by Chinese technology. From San Jose of California to Paris and Riyadh, China's swiftly advancing autonomous driving industry is gaining ground, exporting cutting-edge solutions that are quietly transforming how people move and how cities function. 'Chinese autonomous driving firms are accelerating their global expansion, fueled by mature technologies, swift deployment cycles and rising international demand,' said Liu Jinshan, a professor at Jinan University in south China's Guangzhou. This photo taken on March 11, 2025 shows an interior view of a WeRide Robobus operating in downtown Barcelona, Spain. (Xinhua) GOING GLOBAL In late May, Chinese autonomous driving firm WeRide made headlines as its self-driving vehicles began rolling through the streets of the capital Riyadh and the historic city of AlUla in Saudi Arabia. Almost simultaneously, another major player, Guangzhou-based also shifted its global ambitions into higher gear, announcing a strategic partnership with Dubai's Roads and Transport Authority (RTA) to launch autonomous transport services. These moves are among the latest examples of a broader trend — a larger push by Chinese autonomous vehicle (AV) developers to expand their global presence. Chinese-developed autonomous driving technologies have made inroads into a growing number of global markets — including the United States, France, Spain, Switzerland, Luxembourg, Singapore, Saudi Arabia and the United Arab Emirates. Chinese tech giant Baidu serves as a prime example of this momentum. In the first quarter of 2025, its autonomous ride-hailing arm, Apollo Go, completed over 1.4 million rides, up 75 percent year on year, bringing its global total to over 11 million rides by May. Much of this success can be attributed to China's innovation-friendly environment. By the end of 2024, the country had established 17 national-level intelligent connected vehicle testing zones, with more than 32,000 kilometers of open test roads and over 120 million kilometers of cumulative test mileage, according to official figures. As Chinese AV firms gain global traction, collaboration with global players is deepening. Uber, for instance, has teamed up with WeRide and to integrate Chinese-developed AVs into its ride-hailing platform, starting with pilot operations in the Middle East. 'It's clear that the future of mobility will be increasingly shared, electric and autonomous,' said Uber CEO Dara Khosrowshahi. 'We look forward to working with Chinese leading AV companies to help bring the benefits of autonomous technology to cities around the world.' This photo taken on May 25, 2025 shows a WeRide Robobus operating in the historic city of AlUla in Saudi Arabia. (Xinhua) MUTUAL BENEFITS The rise of China's autonomous driving industry is creating ripple effects across global markets, offering development opportunities far beyond transportation. Peng Jun, co-founder and CEO of said the company's overseas expansion has sparked deep collaboration across the broader mobility value chain — spanning auto manufacturing, R&D, logistics and smart mobility services. 'Deploying autonomous vehicles attracts global component suppliers to invest in local facilities, which helps form industrial clusters and boosts the competitiveness of local manufacturing,' Peng noted. The benefits go beyond factories. According to Zhang Yuxue, WeRide's director of PR and marketing, local partnerships have also led to job creation in areas such as safety operations, fleet management and technical support. Notably, as Chinese AV companies venture into regions with varied road conditions, climates and regulatory environments, their technologies are evolving in step. 'Expanding globally helps us sharpen our algorithms to adapt to complex, real-world scenarios, ranging from the narrow urban roads of Europe to the extreme heat of the Middle East,' said Zhang. Wu Qiong, an autonomous driving expert at Baidu, said Apollo Go is building a 'full-spectrum technical validation chain' as it expands overseas. 'For example, we're testing in Switzerland, a right-hand-drive country with some of the world's most stringent traffic laws, which offers one of the toughest proving grounds for autonomous vehicles,' Wu said. CHALLENGES ON ROAD AHEAD Despite impressive strides, industry insiders note that autonomous driving remains in the early stages of commercialization and global expansion. China's autonomous driving industry still faces significant headwinds on its path to global growth, said Wu Zhanchi, a professor at Jinan University. 'Challenges range from adapting to overseas regulatory frameworks and overcoming high technical localization barriers, to ensuring compliance with cross-border data regulations and fierce competition from international giants,' Wu added. 'The sector also faces significant challenges in technological innovation and the development of sustainable business models,' said Zhu Xichan, professor at Tongji University in Shanghai. Zhu emphasized that achieving scale is crucial for the long-term viability of the AV industry. 'Global expansion not only broadens the range of real-world application scenarios but also boosts deployment volumes, both of which are vital for refining technologies and developing commercially viable models,' he said. Yet, several companies have begun to tackle these hurdles head-on. Peng Jun of said the company has overcome key challenges — such as cost reduction and front-end mass production. 'Our products have reached a level of maturity, and we have achieved positive unit economics,' he noted. Looking ahead, Peng said will continue to expand in Asia, the Middle East and Europe, leveraging existing partnerships to accelerate the growth of its global footprint. Zhang Yuxue echoed this sentiment, saying that WeRide is committed to broadening its international reach by promoting a diverse fleet of autonomous solutions, ranging from robotaxis and minibuses to freight trucks, sanitation vehicles and advanced self-driving systems. General Manager of Apollo Go for Europe and the Middle East Zhang Liang said Baidu aims to build the largest driverless fleet in Abu Dhabi by partnering with local stakeholders to jointly foster a robust autonomous driving ecosystem. In addition, Baidu is exploring cooperation with local new energy firms to develop innovative services, including battery swapping, which Zhang said will help improve operational efficiency. 'Given their growing track record in both domestic and international markets, there is good reason to believe that Chinese AV firms will secure a strong foothold in this global mobility market, ultimately becoming a hallmark of 'Made-in-China' innovation,' Wu noted. – Xinhua China driverless cars smart autonomous driving technology
Business Times
7 days ago
- Business
- Business Times
China tech firms ramp up M&A deals with the blessing of Beijing
[BEIJING] After a chastening crackdown that wiped billions off their value and forced top executives out of the public eye, China's technology giants are back in favour and on the front foot, making deals and snapping up assets. At the top of the pile are Alibaba Group Holding and Tencent Holdings, two huge players that used to compete for acquisitions in everything from ride hailing and video streaming to online finance, until their wings were clipped by Chinese authorities concerned about their wide and powerful reach. Nowadays, with China's economy struggling to pick up much growth momentum and tensions with the US and others rumbling on, the government's stance has shifted, especially with regard to key areas such as artificial intelligence and tech more broadly, where it's trying to stride ahead of rivals. 'We're seeing more normalisation when it comes to regulation of tech in China, which gives confidence to both companies and investors to start looking at deals again,' said Allan Chu, UBS Group's co-head of technology, media and telecommunications investment banking in the Asia-Pacific region. 'China wants to create national champions in areas such as AI and robotics, so we're poised to see more deals in those areas.' Time for deals Tencent's music platform agreed to buy podcasting startup Ximalaya this month, a step forward in its bid to be China's Spotify. That followed a Tencent subsidiary snapping up a nearly 10 per cent stake in SM Entertainment, a rare Chinese investment into a South Korean company in recent years. In late 2024, Tencent acquired a majority stake in Guangzhou-based Kuro Games, a Guangzhou-based developer best known for its free-to-play gacha title Wuthering Waves. Bloomberg News has reported it is also studying a potential acquisition of Nexon. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up In April, Ant Group – founded by Alibaba pioneer Jack Ma, who disappeared from view in 2020 after criticising regulators – became controlling shareholder of Bright Smart Securities, which promptly rallied nearly 100 per cent the next day. 'Chinese technology companies have been very actively looking at acquisition opportunities both domestically and abroad, as they seek new growth areas and new markets,' said Ho-Yin Lee, head of Citigroup's APAC TMT investment banking group. Dealmakers are also busy with disposals, joint ventures and other investments. Alibaba, which has pledged to invest more than 380 billion yuan (S$68 billion) on AI infrastructure such as data centres over the next three years, has been very active, including selling its majority stake in hypermarket chain Sun Art Retail Group and department store business Intime Retail Group It also formed a US$4 billion JV with E-Mart's e-commerce platform in South Korea. The uptick has come with the blessing of Beijing, eager to reduce any reliance on US technology. President Xi Jinping has met with prominent entrepreneurs to stress his support for them and the private sector. In September, a fresh batch of policies was introduced, emphasising themes such as business upgrades and innovation, and allowing listed companies to conduct more cross-sector deals. With assets increasingly up for grabs, Chinese tech firms often tend to prefer to participate in a consortium instead of being the lead buyer, according to Ellis Chu, head of Asia M&A at Jefferies Financial Group. New force awakens Not long ago, China was warning about 'irregular expansion of capital' and monopolies. Amid the fallout, Tencent scrapped a plan in 2022 to acquire handset gaming brand Black Shark. Among other deals to collapse was a planned merger between DouYu International Holdings with Huya, which was rejected by regulators in 2021 on the grounds it would strengthen the game streaming dominance of Tencent, a shareholder in both companies. Since then, AI has emerged as a major force, boosted by the success of Hangzhou-based DeepSeek, which sparked a rally in Chinese tech stocks this year. A group of startups known as AI Dragons or Tigers has bolstered China's AI credentials and attracted investment from both Alibaba and Tencent. Some are also considering moves such as initial public offerings. 'Market sentiment has changed in a positive way after a surge in AI interest earlier this year,' Chu at UBS said. 'Investor enthusiasm for China tech has come back, and that's led to more capital markets deals such as A+H listings, follow-on offerings and convertible bonds as companies seek to beef up their balance sheets. This strong appetite is poised to continue.' Other deals include TikTok's owner ByteDance acquiring Shenzhen-based earphone maker Oladance, bringing on board a team of seasoned former Bose engineers. ByteDance has also delved into areas like robotics and edtech gadgets through in-house development or investments. 'We're likely to see more in-market consolidation in China,' Chu said. 'After years of being a growth market, now China is more mature for tech companies and, to a certain extent, similar to operations in the West.' BLOOMBERG
RTHK
17-06-2025
- Automotive
- RTHK
China's flying car industry quick to commercialise
China's flying car industry quick to commercialise Chinese firm EHang became the first eVOTL-maker in the world to receive a licence to carry passengers commercially. File photo: Xinhua China's flying car-makers could get faster in commercialising compared with global peers given the country's dominance in electric vehicle manufacturing, while top policymakers vigorously promote a "low-altitude" economy as a new driver for national growth. Flying cars or flying vehicles include "electric vertical take-off and landing aircrafts" (eVTOLs) which are a new type of aircraft that utilise electric power for propulsion and are designed to take off and land vertically similar to helicopters, as well as "autonomous aerial vehicles" (AAVs) which are aircraft that operate without direct human control. Speaking on RTHK's "China Perspectives" podcast, Huang Hailong, an assistant professor at the department of aeronautical and aviation engineering at Hong Kong Polytechnic University, noted that the industry has been growing rapidly in the country in recent years, with market size expected to grow four times higher to reach over 2 trillion yuan in about five years, boosted by technological advancements in EV batteries. "From the battery innovation perspective, there are lots of Chinese firms focusing on developing high-energy density batteries, which means that for the same size, same weight of a battery, maybe three years ago it can support just 10 minutes' operation, but with the new technology, it can support 20 or 30 minutes [of flying]," Huang said. He added that while current commercialisation examples of such novel vehicles include those used in agriculture and tourism, they will be able to gradually enrich the urban traffic landscape to make it a more comprehensive three-dimensional system covering land, sea and low-altitude air less than 1,000 metres. The country's innovators, he added, have also moved quickly to take a leap in turning such visions into an everyday reality, with Guangzhou-based EHang in March becoming the first eVTOL-maker in the world to receive a licence to carry passengers commercially with its twin-passenger EH216-S aircraft which has a top speed of 130km/h and a range of 30km. The firm is planning to start offering flights to the public in Guangzhou and another big city - Hefei - by the end of the year, as it forecasts that "flying taxi services" will be viable by 2030. "From the technological perspective, I think this [flying taxi service] is ambitious, but it is still not impossible, because the current trajectory of technological and regulatory and even the infrastructure development is still expanding," he told RTHK. Echoing Huang, Trevor Allen, Head of Sustainability Research at Markets 360, BNP Paribas, noted that the visions of flying cars do show promise as they play into the country's existing industrial strengths - being the world's largest manufacturer of both the batteries such aircraft need, and of electric vehicles, which involve lots of the same technology. "In the EV space, over 80 percent of the components or EV batteries are processed through China today by our calculations. There's a very strong supply chain for creating lithium batteries - particularly for vehicles in that regard. That's going to have a clearer carry-over into this eVTOL urban air mobility space in that sense," he told RTHK. He noted that another distinctive advantage China has in developing the industry is the top-down government guidance and partnership with the private sector, which enables the industry to commercialise faster than competitors. "When you have the top-down approach, you can often bring your products to the market faster, because you have that coordination of the government driving you to go to market. "So the government understands what you need in order to make this business work. But also the government is able to relate to you what parameters you're going to have to operate in, so businesses can quite quickly understand the product and service they're going to be able to offer in that regard," he said. "With these advantages, China is really going to be able to position itself as a first-mover in this industry and a model for other cities of how they can develop this urban air mobility, and to have more cities to really launch their aerial vehicles into their business markets as well."
Yahoo
11-06-2025
- Business
- Yahoo
EXCLUSIVE: Toppoint Signs MoU With Peru's Chancay Municipality To Overhaul Waste Management
Toppoint Holdings Inc. (NYSE:TOPP) on Wednesday announced that it has signed a memorandum of understanding with the Municipalidad Distrital de Chancay in Peru, marking the beginning of a collaboration to overhaul the area's waste management system. The financial terms of the MoU were not disclosed. With Chancay's mega port construction fueling a sharp rise in construction waste, the deal targets sustainable solutions to meet growing environmental challenges. Toppoint Holdings CEO Leo Chan and Chancay Mayor Juan Alberto Alvarez Andrade signed an MoU to create a joint framework for designing a modern waste management system tailored to the region's expanding residential and industrial collaboration aims to tackle rising construction and industrial waste by assessing the feasibility of a new landfill, transfer station, and recycling initiatives while launching immediate studies and policy planning to attract strategic partners and sustainable investment. 'This partnership underscores Toppoint's dedication to delivering sustainable infrastructure solutions in rapidly growing global markets,' said Leo Chan, CEO of Toppoint Holdings. 'Chancay is a region in the midst of profound transformation, and we understand the vital role that advanced waste management systems play in supporting its continued growth.' Chancay, in Lima's Huaral Province, is becoming a key logistics and trade center in South America, spurred by its new deep-water mega port. This rapid growth is driving urbanization and industrial activity, creating an urgent need for modern waste management solutions to support development and safeguard the environment. In another deal signed in late May, Toppoint Holdings announced it had signed a strategic MOU with Guangzhou-based air cargo firm Jinyangcheng to explore joint air freight operations. The partnership initially focused on cargo movement through JFK Airport, with plans to expand to major U.S. and international hubs. The agreement supported Toppoint's global expansion strategy and strengthened its trans-Pacific logistics capabilities. Price Action: TOPP shares closed 1.08% higher at $1.88 on Tuesday. Read Next:Photo by BCFC via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article EXCLUSIVE: Toppoint Signs MoU With Peru's Chancay Municipality To Overhaul Waste Management originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
11-06-2025
- Business
- Yahoo
China Matters' Feature: Low-altitude Economy -- A New Industry Reshaping Global Transportation
BEIJING, June 10, 2025 /PRNewswire/ -- From electric vehicles (EVs) to the 4,500-kilometer high-speed railway network that accounts for two thirds of the global total, China is forging a connected world with its outstanding strength. In the field of transportation, China is pioneering a brand-new frontier: the low-altitude economy. To put it in a simpler way, vehicles can transform into flying machines to facilitate people's daily travels. In the future, flying taxis, delivery drones, and airborne adventures are poised to redefine transportation. With the emergence of such companies as DJI drone, China accounts for over 70% of global civilian drone sales. EHang, a Guangzhou-based tech pioneer, has become the world's first company to secure full aviation certifications for its passenger-carrying flying vehicles. The market value of China's low-altitude economy skyrocketed to over $70 billion in 2023, achieving an impressive annual growth rate of 33.8%. What's more, a new low-altitude route between Shenzhen and Zhuhai cuts the three-hour drive down to a 20-minute flight. Faster, more affordable, and with Instagram-worthy views: this is how urban mobility is redefining itself. None of this would be possible without cutting-edge technology. With 5G-Advanced networks tracking aircrafts in real-time, drones can now help plant crops, deliver packages, aid disaster relief operations. This sector's rapid growth highlights its potential to reshape logistics, tourism, and emergency services, signaling vast economic opportunities. Technological advancements in renewable energy, Al, and telecommunications have accelerated the development of low-altitude technologies, while government support and private investments fuel the progress of the entire industry. By integrating radar systems, 5G networks, and Al-driven monitoring, China aims to build a secure, efficient low-altitude ecosystem for future generations. Click the link below to know more about this new technology. Stay tuned for more exciting content coming soon. YouTube Link: View original content to download multimedia: SOURCE China Matters Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
