Netherlands expects chip supply from Nexperia China to resume
Dutch economic affairs minister Vincent Karremans said Nov. 6 that the Netherlands expects chip shipments from Nexperia’s China-based factory to resume in the coming days. Karremans welcomed China’s decision to allow the resumption of supplies, linking it to a recent U.S.-China trade agreement and constructive dialogue between the Netherlands and China.
On the same day, China’s Ministry of Commerce said that it reviews export license applications for rare earths and other related items, which have clear dual military and civilian uses, in accordance with laws and regulations, and that it aims to ensure the stability of global supply chains.
Meanwhile, Nexperia’s Dutch headquarters on Nov. 5 denied rumors that Wingtech Technology Co. Ltd. founder Zhang Xuezheng has been reinstated as its CEO, stating that Zhang remains suspended by a court order.
France plans to ban Shein’s online platform
France has initiated procedures to suspend the operations of Chinese fast-fashion retailer Shein’s online platform, citing the alleged sale of non-compliant products. The government announced on Nov. 5 that the suspension will remain in place until Shein can prove its platform fully complies with French law.
The move by France’s Ministry of Economy and Finance comes after the Paris prosecutor’s office began investigating the alleged sale of childlike sex dolls on the platform. A French lawmaker also reported the sale of machetes and brass knuckles. Relevant ministers are expected to complete a preliminary review of the matter within 48 hours.
Pony.ai and WeRide fall on Hong Kong trading debut
Shares of Chinese autonomous driving rivals Pony AI Inc. and WeRide Inc. both slumped on their first day of trading in Hong Kong on Thursday, in a weak debut that underscores investor skepticism about the money-losing robotaxi sector.
Pony AI dropped 14.1% from its offer price to HK$119.4 ($15.4), giving it a market capitalization of HK$51 billion. WeRide fell 13.6% to HK$23.4, for a market capitalization of HK$24 billion. The duo’s listings followed a steep decline in both companies’ U.S.-listed shares.
Former East Buy CEO Sun Dongxu resigns
Sun Dongxu, former CEO of East Buy Holding Ltd., has resigned from the company, Yu Minhong, founder of parent company New Oriental Education & Technology Group Inc. announced on social media Nov. 6. Yu said Sun’s departure was for personal reasons and that the two remain on good terms. Sun was removed from his roles as East Buy’s CEO and executive director in late 2023 amid a controversy involving star livestreamer Dong Yuhui, who has since launched his own venture.
Hybrid eVTOL sector expands with new prototypes
Chinese electric vertical takeoff and landing (eVTOL) developers are increasingly turning to hybrid power systems to extend range and lower long-term operating costs, a trend showcased by several companies at recent industry events.
At the China International Import Expo in Shanghai on Wednesday, startup Inflync unveiled its full-size hybrid eVTOL prototype, the L600, which has a top speed of 360 kilometers per hour and a maximum range of 600 kilometers — far beyond the roughly 200- kilometers limit of battery-only models.
On the same day, the flying car subsidiary of XPeng Inc. debuted its own hybrid eVTOL prototype, the A868, during the company’s annual Tech Day event.
