With global digital transformation accelerating and breakthroughs in a wide range of tech developments – such as those for 5G, AI, cloud/edge computing, metaverse/virtual-physical integration, self-driving cars/electric vehicles (EV) – companies around the world are paying much closer attention to and investing more resources in collaborations with startups that promise creativity and innovative ideas. This is driving corporate startup engagement (CSE). Its aim is not only to introduce new momentum into established companies’ digital transformation, but also to jointly build a better world.

After seeing its market valuation top CNY1 trillion (US$148.9 billion) in early June, BYD has joined Huawei on the list of investors of SiC epitaxial wafer manufacturer Tianyu Semiconductor.

This Asia tech industry summary will mainly focus on Geely completing the acquisition of Meizu to bolster its deployments for electric vehicles (EVs), semiconductors, low-Earth orbit satellites, and flying cars; Samsung Electronics reportedly cutting production due to low demand; and EV Motors Japan planning to mass-produce electric buses in Kitakyushu, Japan.