Nokia has announced plans to lay off 2,000 employees in China, which amounts to about 20% of its workforce in the country as part of a cost-cutting initiative. According to reports, the company also plans to cut an additional 350 jobs across Europe. The layoffs are part of Nokia’s plan to cut up to 14,000…
China Invests $6.1 billion In Computing Data Centers
China has invested over $6.1 billion USD in a nationwide project to build computing data centers. This investment is part of the “Eastern Data, Western Computing” project, which was launched in early 2022 to build a ‘digital China.’ According to reports, the project aims to build eight major data center hubs in the western regions…
Foxconn: $137.5 Million Investment in China
Foxconn, also referred to as Hon Hai Precision Industry Co. Ltd, is a multinational electronics contract manufacturer founded in 1974, with its headquarters in New Taipei, Taiwan. Foxconn specializes in manufacturing various electronic products including the iPhone, BlackBerry, PlayStation, Kindle, and Google Pixel, among others. According to reports, Foxconn has announced plans to invest $137.5…
China: World’s Largest Indoor Snow and Ice Park
Harbin is the capital of Heilongjiang province in northeastern China with a population of 6.9 million residents as of 2024. It is known for its cold winters and has become a hub for ice and snow tourism since 1999. According to reports, the new Harbin Ice and Snow World Park officially opened on July 6,…
BYD: $1 Billion Manufacturing Plant In Turkey
BYD, the Chinese automotive company, has announced plans to set up a manufacturing plant in Turkey worth $1 billion USD as part of the company’s expansion outside China. According to reports, the plant will have the capacity to manufacture 150,000 vehicles annually. It is expected to start production by the end of 2026 and will…
BYD Opens First EV Factory In Thailand
BYD, the Chinese automotive company that specializes in designing and manufacturing electric vehicles, has opened an electric vehicle factory in Thailand, its first in Southeast Asia. According to reports, the facility is worth $490 million USD and will be able to produce 150,000 vehicles annually. It will also assemble batteries and other important parts, and…
Baidu Launches Ernie 4.0 Turbo
Baidu, the Chinese multinational technology company that offers cloud computing, artificial intelligence, and internet services, has unveiled its upgraded generative AI model called Ernie 4.0 Turbo. According to reports, Ernie 4.0 Turbo offers faster response and better performance on real-world data than previous models and will be available to users via the web and mobile…
OpenAI Plans To Exit China
OpenAI has announced plans to restrict access to its application programming interface (API) in China and other countries that are not on their supported countries list. According to reports, OpenAI’s API will no longer be accessible in China starting from July 2024. ChatGPT is not available in mainland China, but Chinese companies have used OpenAI’s…
Tesla Recalls 5,836 Vehicles in China
Tesla has issued a recall of 5,836 imported vehicles in China due to issues with the software. According to China’s State Administration for Market Regulation (SAMR), the vehicles fail to deliver an audible or visual warning from the seat belt reminder device when the driver is not wearing a seatbelt. Affected vehicles include Tesla Model…
China: $845 Million EV Battery Investment
China has announced plans to invest $845 million USD to develop next-generation battery technology for electric vehicles. This investment will involve 6 companies, including CATL, BYD, and Geely, in the development of all-solid-state batteries (ASSBs). All-solid-state batteries are a type of battery technology designed to replace the liquid electrolyte in traditional lithium-ion batteries with a…