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2. China used its “Suspicious Entity List” for the first time to sanction Lockheed Martin and Raytheon for arms sales to Taiwan. The move is suspected to be a response to the “Spy Balloon” drama in January that blacklisted six Chinese nationals. (CNN)
3. Although the number of people infected with the corona virus in China is 83,150, epidemiologists’ estimates range from 970,000 to 1.6 million. (New York Times $)
4. Now is not a good time for Chinese Metaverse devotees. Both ByteDance and Tencent reported layoffs in their virtual-reality-related teams last week. (Ykai Global)
5. Ride-hailing app DiDi’s comeback in China shows the delicate balance between the government’s goals of capturing Big Tech and boosting economic growth. (wired $)
6. ASML, a Dutch lithography machine company, accused a former employee in China of stealing confidential information over the past two months. (Bloomberg $)
7. Bao Fan, the Chinese billionaire banker who made major acquisitions in China’s technology industry, has disappeared without explanation. (BBC)
Lost in translation
Building a charging infrastructure to serve the rapidly increasing number of EVs in China has become a challenge. Chinese publication Time Weekly reported that during the Lunar New Year, Chinese EV owners on road trips had to wait for hours at highway service stations before charging their cars. The same thing happened last summer when a severe heat wave knocked out the grid in parts of China.
Currently, for every public charging post in China, there are more than 12 EV owners who cannot charge at home in their densely populated urban areas. These posts are unused 90% of the time, prompting some owners to rent out their private charging stations due to the lack of public infrastructure. Profits from renting them, which can reach more than RMB 2,000 ($290) annually, help pay for the installation costs. But so far, most owners of personal charging posts have yet to realize that sharing is possible: only 2.1% are estimated to share with other EV owners.
One more thing
When Ford announced its battery manufacturing plan at CATL, Quartz reporter Mary Huey noted a striking historical parallel. In the year The deal is helping the Chinese battery giant finally enter the U.S. market in 2023, with U.S.-China relations strained by scandals surrounding China’s spying balloon. In the year A 2001 deal between Ford and a Chinese carmaker helped the US auto giant enter the Chinese market, but relations between the two countries were strained by a scandal over a US spy plane. By chance? i don’t think so.
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