Monday, June 24, 2024

Tech News Update: EV Battery Startups Leading the Charge in Solid-State Race, TikTok Parent Company Pushing for Quick Lawsuit Against U.S.

The Daily Tech Roundup: EV Battery Startups, GAC’s Collaboration with CATL, Canada’s EV Tariff Policy, ByteDance’s Lawsuit, and Hong Kong’s Digital Yuan Pilot

Recent developments in the technology sector in China and Asia are shaping the future of electric vehicles (EVs) and digital currency. EV battery startups in China are leading the charge towards solid-state battery technology, with companies like QingTao Energy Development and WeLion New Energy aggressively entering the market. This new technology has the potential to address technical and safety issues associated with current EV batteries. On the other hand, established manufacturers like CATL and BYD are taking a more cautious approach, focusing on maximizing profits from existing technologies before transitioning to solid-state batteries.

In a strategic move to attract more customers, GAC’s EV brand, Aion, has teamed up with CATL to venture into the battery-swapping business. This partnership will involve the development of EV models with swappable batteries by Aion, while CATL will provide the necessary battery packs and support services.

Meanwhile, Canada is reevaluating its EV tariff policy in response to the United States’ decision to impose significant tariffs on Chinese-made electric vehicles. Trade Minister Mary Ng confirmed ongoing discussions with American counterparts regarding potential tariff adjustments.

In the legal realm, ByteDance, the parent company of TikTok, is seeking expedited legal action to challenge a U.S. law that could force the sale of the popular app or risk a ban. The urgency of the matter is heightened by the approaching deadline for divestment to avoid a potential ban.

Lastly, Hong Kong has officially launched a pilot program for digital yuan payments, marking the first implementation of China’s digital currency project outside the mainland. Residents can now establish digital yuan wallets with major Chinese banks and make payments directly to merchants in mainland China, showcasing the increasing adoption of digital currency in the region.

These developments underscore the ongoing evolution of technology in China and Asia, shaping the future of industries like electric vehicles, digital currency, and legal challenges facing tech companies.

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