Dear reader,
The global rise in electric vehicle (EV) sales in September highlights the growing dominance of the sector, driven largely by China and a recovering European market.
China’s remarkable 47.9% sales increase signals its commitment to solidifying a global leadership role, despite cooling global demand and rising EU import duties.
Meanwhile, Europe’s resurgence—boosted by strong growth in the UK, Germany, and other key markets—reflects the continent’s ongoing push for green mobility, even as countries like France and Germany adjust their subsidy policies.
While the US lags behind, with modest growth of just 4.3%, the upcoming election introduces uncertainty into the market’s trajectory. As policy shifts loom, the true test will be whether the country can match the pace set by global leaders in EV adoption.
Looking ahead, Rho Motion’s revised forecasts for European EV sales—down by nearly 20% for 2030—suggest a more cautious outlook, influenced by evolving market conditions and policy changes.
However, as intermediate emissions goals come into play, Europe remains a battleground for automakers competing for market share in the green transition, with Chinese manufacturers pressing forward despite trade barriers. The coming months will reveal whether growth can sustain the momentum in this pivotal sector.
Sainul,
Editor.
NEWS & VIEWS
Lazada eyes US$100B GMV by 2030 in SEA
To pursue this goal, the Singapore-based e-commerce platform has partnered with luxury brands, including Armani DG, to strengthen its position in Southeast Asia’s e-commerce market.
Global EV sales up 30.5% in Sept as China shines, Europe recuperates
EVs sold worldwide reached 1.69M in September; Sales in China jumped 47.9% in September and reached 1.12M vehicles, while in the United States and Canada, they were up 4.3% to 0.15.
TikTok’s research reportedly acknowledges negative effects on teens
The company’s own research shows that “compulsive usage correlates with a slew of negative mental health effects like loss of analytical skills, memory formation, contextual thinking, conversational depth, empathy, and increased anxiety.”
Singapore’s ticketing platform GlobalTix closes US$4.97M Series B round
The investors include Tin Men Capital, SEEDS Capital, and ORZON Ventures; GlobalTix is one of the largest ticket aggregators in Southeast Asia, hosting over 150,000 experiences and 12,000 travel agents and issuing over 12M tickets annually.
Filipino lending startup OneLot raises US$4M pre-seed funding
The investors include 468 Capital, Kaya Founders, Crestone Venture Capital, 21yield, and Founders Launchpad; OneLot specialises in offering working capital financing exclusively to used car dealers.
Singapore’s XA Network expands to Africa
XA Africa aims to connect exceptional African tech founders with seasoned investors and industry experts, primarily from global and regional technology companies, to provide not just capital but also the guidance and support needed to scale their ventures.
Malaysia’s Gamuda launches AI Academy
Gamuda Al Academy offers a comprehensive three-month curriculum focusing on full-stack Al development, including front-end, back-end, and Al technologies; The programme is open to students, graduates, industry professionals, and start-up founders.
Singapore’s Vouch raises US$2.5M for AI development
Vouch is a hotel operations management solutions provider; By analysing guest behaviour, Vouch AI anticipates what guests want and recommends high-performing room service pairings, upgrades, and add-ons.
Indian AI robotics startup Perceptyne secures US$3M seed funding
Endiya Partners and Yali Capital co-led the round; Perceptyne’s products have features including computer vision, advanced AI algorithms, and adaptive sensing tech designed for assembly and packaging applications in the automotive and electronics industries.
MYStartup launches pre-accelerator cohort 5 to support early-stage startups
The programme will run from October 2024 through February 2025, providing an intensive, hands-on learning experience designed to accelerate startup growth and development.
OneCFO bags US$500K to automate financial management for Philippine SMEs
The investment will be used to develop its suite of B2B financial management apps and hire people; OneCFO has integrated cloud accounting systems, ERPs, payroll software, business intelligence, and other software into one platform.
Apple might release a US$2K Vision headset next year
The headset combines the digital and real worlds; Apple will use cheaper materials and a less powerful processor, and it will not include the EyeSight feature that shows a user’s eyes outside the headset.
FEATURES & INTERVIEWS
Investing in climate tech: Why investors should focus on impactful, low-hanging fruits
According to SOSV Founder Sean O’Sullivan, when it comes to climate tech investment, investors should also realign their expectations.
From admin headache to AI-driven insights: How Earlybird AI empowers SME founders
Just out of stealth mode, Earlybird mainly caters to solopreneurs and founders of early-stage startups and e-commerce firms.
FROM THE ARCHIVES
The extraordinary tale of a Filipino geek who swam against the odds in life
Clark Urzo is one of the two geeks from Southeast Asia to make it to Pioneer, a programme run by Daniel Gross and funded by Marc Andreessen.
Book Excerpt: How I survived an elevator pitch session with Tim Draper
In this book, Zopim Founder Royston Tay shares his experience pitching his startup idea to legendary investor Tim Draper.
Mastering the art of fundraising: Winning strategies to engage investors
The VC financing landscape is constantly evolving so new businesses must know how to successfully approach investors while fundraising.
7 trends changing the reality of immersive gaming
Immersive gaming is now a profession for competitive e-sports organisations and players of all backgrounds.
Unlocking success: These 3 startups reveal their product development strategies
These professionals from three different startups in Southeast Asia explain how they are doing product development in their respective companies.
Women in tech have leaned in enough. This is what we should do instead
Lack of equal opportunities has always been a key issue faced by women in tech. We can never solve this through motivational speeches.
How AI enhances content creation and sales strategies for live commerce in the Philippines
The rapid growth and profitability of live commerce have driven brands to seek innovative ways to maintain a competitive edge.
How is fintech different in Asia
The faster fintech develops in Asia, the richer the local digital landscape becomes, leading further spread of digital financial services.
Are traditional conglomerates in the Philippines finally embracing corporate investing?
What stops the big conglomerates in the Philippines from getting their skin into the startup game? This article will answer that.
Will digital banks take off in the Philippines?
Technology is now turning the Philippines’ unbanked population into a viable demographic with enormous potential for financial institutions.
Beyond the hospital: Challenges and opportunities in Indonesian healthtech scene
Healthtech in Indonesia may have been a niche sector at the moment, but there is plenty of room for startups to grow.
Finding the right co-founder involves having tough conversations–and a great sense of humour
On a personal level, a co-founder can provide invaluable emotional support and motivation during the highs and lows of building a company together, especially at the start when one has to do everything oneself.
Essential tips for scaling in Southeast Asia: 4 key insights to consider
Southeast Asia is not uniform but is a region with distinct user bases which imposes a challenge for tech companies who want to scale up.
Uncovering the rise and challenges faced by deep tech startups in Singapore
While considerable work has been done to grow the deep tech startup scene in Singapore, it remains far from the finished article.
Between data and gut feeling, which one do Singaporean customers trust to make decisions?
Qlik’s report also found that Generation Zs are more wary about the privacy concerns that surround technology.
How behavioural science is transforming corporate learning
In the context of corporate learning, behavioural science principles can be adapted to nudge people to accept change positively.
The art of letting go and how it makes you an even better entrepreneur
As an entrepreneur, are we agile enough to let go of our “grit” and change direction when the twists and turns call for it?
How to craft your startup’s financial projections
Creating a financial projection is not about accuracy; it is about understanding the founder’s thought process.
Unlikely mentors: What kids can teach you about entrepreneurship
I distilled some key habits and characteristics that business owners can develop to thrive in entrepreneurship.
THOUGHT LEADERSHIP
A decade of Japan’s mandatory stress checks: Why work-related mental health is still declining?
Japan’s decade of mandatory stress checks shows that improving workplace mental health demands ongoing innovation, cultural change, and empathy.
Storytelling in diverse markets: How you can effectively market as you expand
Creating brand storylines in SEA’s diverse markets can be challenging; here are tips on highlighting your company’s strengths for customers.
Strategic communication: A core element in building and leading a business
Strategic communication is not merely reactive but a forward-looking function that builds momentum and resilience.
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Image Credit: 123RF.
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