BYD Surpasses Tesla as Global Electric Car Leader
BYD Auto outpaced Tesla in the fourth quarter of 2024, becoming the world’s largest seller of battery electric vehicles (BEVs). The Shenzhen-based company delivered 595,412 BEVs, 20% more than Tesla’s 495,570 units, thanks to a strong product lineup catering to middle- and low-income buyers. BYD also sold 918,556 plug-in hybrids, a staggering 120.7% increase year-over-year. In contrast, Tesla fell short of delivery expectations, reporting a 1.1% annual decline in sales to 1.79 million units. BYD’s total 2024 sales reached 4.27 million vehicles, positioning it to surpass Volkswagen.
Alibaba Slashes AI Model Prices by 85% Amid Fierce Competition
Alibaba is cutting prices on its visual language model, Qwen-VL, by up to 85%, aiming to attract more enterprise users to its AI solutions. The move highlights the intensifying competition among Chinese tech giants, including Tencent, Baidu, and Huawei, to dominate the AI space. Qwen-VL, capable of understanding both text and images, is part of Alibaba Cloud’s push to strengthen its AI business. Earlier price reductions, such as a 97% cut in May, have already spurred demand, with over 90,000 enterprises adopting Qwen models.
China Expands Subsidies to Spark Smartphone and Electronics Sales
China is broadening its trade-in subsidy program to include smartphones, tablets, and smartwatches, aiming to boost domestic spending. Previously limited to cars and home appliances, the initiative now targets the world’s largest smartphone market, benefiting brands like Huawei and Xiaomi, and platforms like Alibaba and JD.com. The move addresses slower consumer upgrades post-Covid and aims to offset potential impacts from new U.S. tariffs.
Lemon8 Rises as TikTok's Future Hangs in the Balance
Lemon8, TikTok’s sister app, has surged to the top of Apple’s App Store as uncertainty looms over a potential TikTok ban in the U.S. Like TikTok, Lemon8 is owned by ByteDance and uses the same powerful algorithm, but it focuses on photo slideshows, resembling Instagram and Pinterest. The Protecting Americans from Foreign Adversary Controlled Applications Act mandates ByteDance to sell TikTok by January 19 or face a ban, which could also impact Lemon8. TikTok has appealed the law, with the Supreme Court set to hear the case on January 10.
Meta Shuts Down Controversial AI Profiles Amid User Backlash
Meta has deleted Facebook and Instagram profiles of its AI characters after screenshots of user interactions went viral. Originally launched in September 2023, these profiles—like Liv, a “proud Black queer mom,” and Carter, a “relationship coach”—were part of an AI experiment. However, users rediscovered them after Meta announced plans for new AI characters, sparking renewed interest and controversy. Despite this, user-generated chatbots like “therapists” and “relationship coaches” remain available, raising questions about moderation and accountability for chatbot behavior.
OpenAI to Shift to For-Profit Public Benefit Corporation in 2025
OpenAI announced plans to transition to a public benefit corporation (PBC) in 2025, enabling it to operate more like a high-growth startup while retaining its nonprofit mission. The move comes as the AI pioneer seeks to attract significant capital amid fierce competition in the $1 trillion generative AI market. With a $157 billion valuation and $5 billion in projected losses for 2024, OpenAI aims to balance profit motives with public benefit.
KoBold Metals Secures $537M to Accelerate AI-Driven Mineral Exploration
US-based mining startup KoBold Metals, backed by billionaires Bill Gates and Jeff Bezos, has raised $537 million in Series C funding, bringing its valuation to $2.96 billion. The investment, will support the exploration of key minerals like copper, lithium, and nickel, essential for technologies such as electric vehicles and mobile phones. KoBold plans to use the funds to advance high-potential projects, with a focus on the Mingomba copper mine in Zambia. The company is also set to recruit data scientists and geoscientists to enhance its AI-driven exploration approach.
