Markets

At the 2025 Chongqing Auto Show, Chinese auto executives voiced concerns over intense price competition, advocating a shift to value-driven strategies. They emphasized prioritizing quality, technology, and service over aggressive price cuts, warning about the detrimental effects on the supply chain and long-term innovation. The consensus is to move away from price wars to achieve sustainable industry growth.

Former Gree Electric executive Wang Ziru discussed his departure in a livestream, hinting at friction stemming from proposed channel reforms. He emphasized the decision wasn’t solely his and highlighted positive relationships with colleagues. While details were guarded, he referenced public salary information and revealed his title wasn’t formally VP. Wang described his work at Gree as reshaping the sales system, driven by a sense of urgency and a desire for a lasting legacy.

Errol Musk, Elon Musk’s father, attended a Moscow forum organized by Russian ideologue Alexander Dugin, sparking international interest. He discussed Elon’s relationship with Donald Trump, attributing the situation to a “mistake” and expecting a swift resolution. Errol believes his son opposes Democrats to counter their “stupid ideas.” The visit’s timing, coinciding with a Russian lawmaker’s asylum suggestion, highlights complex geopolitical dynamics.

China’s consumer “trade-in” subsidies, crucial for boosting domestic demand, are experiencing temporary pauses in several regions during the 618 shopping festival. Many cities are shifting from broad subsidies to a “grab-the-coupon” system or have suspended them entirely. This slowdown, potentially linked to dwindling funds, impacts appliance and digital device purchases. While retailer promotions continue, the future of these subsidies is uncertain, yet policy is anticipated to shift to a quota system to better moderate fund usage.

GreenPower Motor Company announced the closing of the third tranche of its secured term loan, securing an additional $300,000. The funds, provided by entities controlled by the CEO and a director, will support production, supplier payments, payroll, and working capital. The two-year loan carries a 12% annual interest rate and includes share purchase warrants and loan bonus shares for lenders. GreenPower aims to meet growing EV demand.

Ram is returning to the NASCAR CRAFTSMAN Truck Series in 2026 after 13 years, announcing a major product offensive with 25 planned announcements. The brand unveiled a new Ram 1500 concept race truck, marking its comeback and celebrating the return of the HEMI® V-8. This move is part of Ram’s strategy to showcase its performance trucks.

Meta is in advanced talks to invest over $10 billion in AI data labeling startup Scale AI. This deal, if finalized, would be a historic private financing, reflecting the importance of data in the AI landscape. Scale AI, which provides data labeling services crucial for training machine learning models, has experienced rapid growth. Meta’s investment signals a shift toward external AI partnerships and supports its strategic focus on AI, including its Llama language model and AI-powered integrations across its platforms.

iFLYTEK’s Spark AI won a Gaokao essay competition against other domestic AI models, scoring high on a challenging prompt about expression in adversity. The victory highlighted Spark’s profound reasoning, cultural understanding, and ability to construct a compelling narrative praised by educators. This achievement marks a significant step for domestic AI in education, driven by a “teaching-thinking chain” that delivers personalized learning. It signifies the potential for self-reliant AI education and personalized learning globally.

Facing scrutiny over its “Duoban” trademark, instant noodle brand Baixiang swiftly rebranded its products, replacing the term with accurate weight descriptions. This move, costing the company potentially millions, showcases a commitment to transparency and consumer trust. Baixiang’s actions, a stark contrast to industry norms, highlight its dedication to honesty and quality, establishing a new standard within the FMCG sector, rooted in a long-standing promise of safe and reliable products.

Apple researchers challenge current AI reasoning models, arguing they are sophisticated pattern matchers, not true thinkers. They criticize existing evaluation methods, proposing new puzzles to assess in-depth thought. Results show models struggling with increased complexity, leading to performance collapses. The paper sparks debate about AI’s limitations and the need for improved reasoning and evaluation.