Toyota’s new chief executive has warned of “a sense of crisis” surrounding its business in China, pledging to boost local supply chains for electric vehicles as technological and geopolitical challenges intensify, reports the Financial Times. In a group interview on Friday, Koji Sato, who took the helm of Toyota earlier this month, pledged “bold” efforts […]
Category: Tech, Media & Telecom
Robot vacuum companies from China are cleaning up globally with cutting-edge features and affordable prices, as shown by the player behind Ecovacs cleaners surpassing the maker of Roombas in sales last year, reports Nikkei Asia. The Chinese business, formally known as Ecovacs Robotics, is hoovering up more than consumers. Investors are embracing the company’s growth […]
An Indian court has rejected Chinese phonemaker Xiaomi Corp’s petition against the seizure of 55.51 billion rupees ($676 million), according to two sources familiar with the matter, reports Reuters. Xiaomi’s assets in India were frozen last year by the federal financial crime agency which alleged the company had made illegal remittances to foreign entities by passing them […]
Seagate Technology Holdings has agreed to pay a $300 million penalty in a settlement with US authorities for shipping over $1.1 billion worth of hard disk drives to China’s Huawei in violation of US export control laws, the Department of Commerce said on Wednesday, reports Nikkei Asia. Seagate sold the drives to Huawei between August […]
Chinese regulators are expected to fine Ant Group about a quarter less than the more than $1 billion initially planned and downgrade their charges against it, sources said, as they seek to end a years-long crackdown on marquee technology firms, reports Reuters. The fine being considered now is about RMB 5 billion ($728 million), three […]