Weekly Overview（08/03-14/03）
1. CHAGEE (霸王茶姬) announces its entry into the South Korean market, with its first flagship store scheduled to open in the second quarter.
2. WeRide (文远知行) and Farizon Auto (吉利远程) deepen their strategic partnership, aiming to deliver 2,000 units of the factory-installed, mass-produced Robotaxi GXR in 2026.
3. With 5.8 million units shipped, Roborock (石头科技) has secured the top position in both sales volume and revenue for the robot vacuum cleaner market for two consecutive years.
4. Geely (吉利) reports a surge in international sales, with overseas market performance exceeding the 60,000-unit milestone for two consecutive months.
5. Baidu's Apollo Go (百度萝卜快跑) restarts dual-city operations in the United Arab Emirates: launching fully driverless testing and operations to expand the smart mobility landscape.
6. Mercedes-Benz in talks with Great Wall Motor (长城汽车) regarding cooperation at its South African plant to circumvent U.S. tariff barriers.
7. He Xiaopeng (何小鹏): In the coming decade, XPENG (小鹏汽车) will strive to become a global-scale Physical AI Company.
8. AgiBot (智元) secures its first overseas partnership with a telecommunications operator; robot leasing services will officially debut in Singapore.
9. TikTok Shop enters the South Korean market, with an official launch scheduled for the third quarter of 2026.
10. Stellantis, the world’s fourth-largest automaker, considers strategic transactions with Xiaomi (小米) and XPENG (小鹏汽车) to revitalize its European operations.
11. Cainiao (菜鸟) to deploy an overseas robotic warehousing network (机器人仓储网络), aiming for coverage in key markets across Europe and the U.S. by 2026.
12. BYD (比亚迪) plans to establish a factory in Canada and is also considering the acquisition of traditional automotive manufacturers.
13. TikTok receives authorization to continue its operations in Canada.
14. BYD is reportedly entering top-tier motorsport series such as Formula 1, considering both self-built teams and potential acquisitions.
15. Simplified Power (至简动力) completes five funding rounds within six months, accumulating total financing of CNY 2 billion.
16. AISphere (爱诗) raises USD 300 million, marking the largest single financing round for a Chinese video generation (视频生成) startup.
Selected Developments
1. CHAGEE (霸王茶姬) Announces Entry into the South Korean Market, First Store to Open in Q2
[Event] Recently, CHAGEE officially announced its expansion into the South Korean market, with its flagship store scheduled to open in Gangnam, Seoul, in the second quarter of 2026. In addition to the Gangnam debut, the brand plans to concurrently launch two other outlets, strategically located in I’Park Mall in Yongsan and the Sinchon university district, a prominent hub for the youth population.
South Korea represents the eighth overseas market for CHAGEE. Since establishing its first international outlet in Kuala Lumpur, Malaysia, in 2019, the brand has progressively entered Singapore, Thailand, Indonesia, the United States, Vietnam, and the Philippines. Currently, international operations have emerged as a pivotal growth engine for the company. According to the Q3 2025 financial report, the brand's overseas GMV has achieved a year-on-year growth rate exceeding 75% for two consecutive quarters. As of September 30, 2025, CHAGEE operates a total of 262 stores internationally.
While steadily expanding its global footprint, CHAGEE continues to deepen its presence in existing markets. In Thailand, for instance, the brand has recently expanded beyond Bangkok; two new stores in Chiang Mai are currently in soft opening and are slated for an official launch on March 13.
2. WeRide (文远知行) and Farizon Auto (吉利远程) Deepen Strategic Cooperation, 2026 Delivery Set for 2,000 Mass-Produced Robotaxi GXR Units
[Event] Recently, WeRide and Farizon Auto signed an agreement to deepen their strategic partnership, announcing that the newly upgraded, factory-installed mass-produced Robotaxi GXR will officially roll off the production line in the third quarter of 2026. The two parties expect to deliver 2,000 units of the GXR model in 2026 for deployment in both domestic and international markets. This upgraded GXR is equipped with WeRide's latest GEN8 Autonomous Driving Suite, featuring a thousand-line class primary LiDAR with a detection range of up to 600 meters. Leveraging Farizon Auto’s intelligent manufacturing system, the production time per vehicle has been significantly reduced from over one hour to under 10 minutes.
As of January 2026, WeRide’s global Robotaxi fleet has reached 1,023 units. With the delivery of additional capacity, its active fleet size is expected to exceed 2,600 units in 2026, moving toward the target of tens of thousands by 2030. Currently, the Robotaxi GXR has achieved fully driverless commercial operations in Guangzhou, Beijing, and Abu Dhabi. On March 13, WeRide further announced that its Robotaxi service has officially integrated into the "Tencent Mobility Service" mini-program, allowing Guangzhou users to be the first to hail rides directly via WeChat, with plans to gradually expand to more cities.
In international markets, WeRide’s Dubai Robotaxi fleet fully resumed operations on March 6, with plans to officially launch fully driverless commercial services within this month. Furthermore, WeRide has announced that, starting April 1, it will partner with Grab to officially open Robotaxi operational services to the public in the Punggol area of Singapore. Through deep integration with global mobility platforms such as Uber, Grab, and TXAI, WeRide’s path toward large-scale commercialization is accelerating worldwide.
3. Mercedes-Benz in Talks with Great Wall Motor (长城汽车) over South African Plant Cooperation to Counter U.S. Tariff Barriers
[Event] Recently, according to Bloomberg, Mercedes-Benz Group is in negotiations to share production capacity at its plant in East London, South Africa, with its partner Great Wall Motor (GWM). This initiative aims to enhance the plant's operational efficiency and preserve approximately 2,400 jobs. Since 1997, this facility has served as a critical export hub for the Mercedes-Benz C-Class to the United States; however, its profitability is currently facing severe challenges due to extreme volatility in U.S. trade policy.
In August last year, the U.S. government imposed a 30% tariff on South African goods, leading to a sharp contraction in the plant's export volume to the U.S. market. Although the U.S. Supreme Court ruled the relevant tariffs illegal and suspended them in February 2026, the Trump administration promptly invoked Section 122 of the Trade Act of 1974, announcing a uniform 15% tariff on all global goods entering the U.S. (valid for 150 days). This move has left the trade outlook for the East London plant shrouded in uncertainty.
Against this backdrop, factory sharing has emerged as a pragmatic survival strategy. Mercedes-Benz invested approximately EUR 600 million in 2022 to modernize the facility. Introducing Great Wall Motor through a Contract Manufacturing model would effectively fill the capacity gap and reduce amortized costs. Great Wall Motor has submitted a proposal to South African authorities, explicitly expressing its intention for localized production of its popular brands, such as Haval and Tank. Given the high flexibility of the existing Mercedes-Benz production lines, Great Wall Motor would only need to construct its own body-in-white welding workshop within the plant site to begin production.
Furthermore, Mercedes-Benz is evaluating the feasibility of transitioning portions of the East London plant's functions into a global recycling center for retired passenger vehicle batteries. Negotiations between the two parties are ongoing, and a final agreement has yet to be reached. The South African automotive industry has welcomed such cooperation; due to the impact of imported models, the market share of locally manufactured vehicles in South Africa has plummeted from 56% twenty years ago to approximately one-third today.
4. AgiBot (智元) Secures First Overseas Telecommunications Partnership; Robot Leasing Services to Launch in Singapore
[Event] Recently, AgiBot has accelerated its operations in the Singapore market by establishing deep collaborations with local telecommunications giants and security service providers. This marks a new phase in its globalization strategy—one focused on cultivating local ecosystems.
AgiBot has signed its first overseas carrier-grade strategic cooperation agreement with Singtel Enterprise. The two parties will integrate AgiBot’s embodied intelligence technology with Singtel’s 5G and 5G-A network advantages to build an innovation ecosystem for robotic applications. It is anticipated that within 2026, Singtel will officially launch channel-based leasing services for Agibot robots. This RaaS model will effectively lower the entry barrier for corporate and individual users, driving automated deployment across the retail and commercial service sectors.
Furthermore, AgiBot has entered into a strategic partnership with Certis Group, a leading integrated security services provider in the Asia-Pacific region. Currently, both parties have initiated pilot validation at Singapore Changi Airport Terminal 5, where the AgiBot Yuanzheng A2 (远征A2) provides welcoming, guiding, and information consulting services for travelers. Additionally, the AgiBot Lingxi X2 (智元灵犀X2) demonstrated high-precision motion control through dance performances at events in Resorts World Sentosa. Through real-world testing in airports, critical infrastructure, and cultural tourism scenarios, AgiBot is actively exploring commercialization pathways in high-complexity environments.
5. Stellantis, World’s Fourth-Largest Automaker, Considers Transactions with Xiaomi (小米) and XPENG (小鹏汽车) to Revitalize European Operations
[Event] Recently, according to Bloomberg citing people familiar with the matter, Stellantis, the world’s fourth-largest automaker, is exploring cooperation options with Chinese carmakers, seeking to introduce Chinese capital to fund its struggling European operations. Stellantis executives have been in contact with Xiaomi and XPENG for several months, discussing restructuring plans that include potential equity stakes in Maserati or other brands by Chinese firms.
Faced with profitability pressures in Europe, overcapacity, and high costs of electrification, Stellantis plans to shift its investment focus toward the higher-margin American market. Through this cooperation, Stellantis hopes to leverage the advantages of Chinese automakers in electric vehicle (EV) technology and software to enhance the competitiveness of its European brands, such as Fiat, Opel, and Peugeot. For Xiaomi and XPENG, this represents not only an opportunity to acquire local production capacity in Europe but also a strategic chance to circumvent trade barriers and directly establish a presence in core European markets.
Currently, Stellantis is undergoing a business restructuring under the leadership of CEO Antonio Filosa. While negotiations involve equity investments and factory capacity sharing, sources emphasized that discussions remain in the preliminary stages, and no final deal is guaranteed. Following the news, XPENG American Depositary Receipts (ADRs) rose as much as 5.5%, while Xiaomi shares also saw a slight uptick.
6. BYD (比亚迪) Plans to Establish a Factory in Canada and Considers Acquiring Traditional Automakers
[Event] On March 13, Stella Li, Executive Vice President of BYD, stated in an interview with Bloomberg in São Paulo, Brazil, that the company is exploring the potential possibility of establishing a factory in Canada. She explicitly noted that BYD would own and independently operate the facility, stating bluntly that "joint ventures don't work," a stance that diverges from the joint-venture model previously promoted by the Canadian government. In January of this year, China and Canada reached a trade agreement allowing up to 49,000 Chinese-made EVs to be exempt from the 100% tariff, incurring only a 6.1% negotiated tariff.
Furthermore, Stella Li revealed that BYD remains open to the acquisition of traditional automakers. She pointed out that as some American, European, and Japanese automakers struggle to survive amidst intense global competition, BYD is evaluating relevant potential assets. Although no deals are currently near completion, this move underscores BYD's plan to accelerate expansion by integrating global automotive industrial resources. Li emphasized that the company is confident in BYD's future global opportunities and will make decisions based on the principle of maximizing interests.
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