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Tiktok Owner Bytedance Aims for Hong Kong IPO by Early 2022

The ByteDance logo is seen in this illustration taken, Nov. 27, 2019. REUTERS/Dado Ruvic/Illustration/File Photo
The ByteDance logo is seen in this illustration taken, Nov. 27, 2019. REUTERS/Dado Ruvic/Illustration/File Photo
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Tiktok Owner Bytedance Aims for Hong Kong IPO by Early 2022

The ByteDance logo is seen in this illustration taken, Nov. 27, 2019. REUTERS/Dado Ruvic/Illustration/File Photo
The ByteDance logo is seen in this illustration taken, Nov. 27, 2019. REUTERS/Dado Ruvic/Illustration/File Photo

ByteDance, the Chinese owner of short video platform TikTok, has revived its plan to go public with a listing in Hong Kong by early 2022 after addressing Chinese regulators' concerns, the Financial Times reported on Sunday.

ByteDance is planning to list in either the fourth quarter of this year or in early 2022, the FT reported, citing sources familiar with the matter.

"We are expecting final guidance from ByteDance in September. They are submitting all the filings with Chinese authorities right now and are going through the review process," the newspaper quoted a source as saying.

However, a ByteDance spokesperson told Reuters that the FT report was not accurate. The spokesperson declined to provide more details, Reuters reported.

Beijing-based BytDance said in April that it had no imminent plans for an initial public offering (IPO).

Chinese regulators have stepped up their scrutiny of the tech sector in recent months. The FT report said ByteDance has been working on addressing data security concerns raised by regulators.

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Technology

Kia to Sell Lower-priced Electric Vehicle in US

A KIA logo on an electric vehicle is seen on display at the Canadian International AutoShow in Toronto, Ontario, Canada, February 13, 2025. REUTERS/Carlos Osorio
A KIA logo on an electric vehicle is seen on display at the Canadian International AutoShow in Toronto, Ontario, Canada, February 13, 2025. REUTERS/Carlos Osorio
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Kia to Sell Lower-priced Electric Vehicle in US

A KIA logo on an electric vehicle is seen on display at the Canadian International AutoShow in Toronto, Ontario, Canada, February 13, 2025. REUTERS/Carlos Osorio
A KIA logo on an electric vehicle is seen on display at the Canadian International AutoShow in Toronto, Ontario, Canada, February 13, 2025. REUTERS/Carlos Osorio

Kia said Wednesday it will begin selling a lower-priced electric vehicle in the United States later this year as automakers work to recharge EV sales.

The Korean automaker said at the New York Auto Show it will offer the EV3 in the US market starting later this year, Reuters reported.

Automakers are facing a tougher EV market in the United States after Congress repealed the $7,500 EV tax credit last year but higher gasoline prices in recent weeks has prompted new interest in the EVs.

Technology

Passengers Stranded in Moving Traffic after Robotaxi Outage in China

This file photo taken on August 1, 2024 shows a general view of a driverless robotaxi autonomous vehicle developed as part of tech giant Baidu's Apollo Go self-driving project, in Wuhan, in central China's Hubei province. (Photo by PEDRO PARDO / AFP)
This file photo taken on August 1, 2024 shows a general view of a driverless robotaxi autonomous vehicle developed as part of tech giant Baidu's Apollo Go self-driving project, in Wuhan, in central China's Hubei province. (Photo by PEDRO PARDO / AFP)
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Passengers Stranded in Moving Traffic after Robotaxi Outage in China

This file photo taken on August 1, 2024 shows a general view of a driverless robotaxi autonomous vehicle developed as part of tech giant Baidu's Apollo Go self-driving project, in Wuhan, in central China's Hubei province. (Photo by PEDRO PARDO / AFP)
This file photo taken on August 1, 2024 shows a general view of a driverless robotaxi autonomous vehicle developed as part of tech giant Baidu's Apollo Go self-driving project, in Wuhan, in central China's Hubei province. (Photo by PEDRO PARDO / AFP)

Some robotaxi passengers were left stranded in the middle of fast-moving traffic in a major Chinese city after their driverless vehicles stopped running, according to police and media reports on Wednesday.

A preliminary investigation indicates more than 100 robotaxis came to a halt because of a “system malfunction,” police in the city of Wuhan said in a statement, without elaborating. No injuries were reported.

One passenger told Chinese media that their robotaxi stopped after turning a corner. An instruction on a screen read: “Driving system malfunction. Staff are expected to arrive in 5 minutes.” After no one showed up, the passenger pushed an SOS button and was told that staff were on their way. The car door could be opened, so the passenger got out on their own.

It is the first time a mass shutdown of robotaxis has been reported in China, The Associated Press said. In December, many of Waymo’s self-driving cars came to a stop in San Francisco because of a power outage.

The taxis in Wuhan are operated by Baidu, a major Chinese internet and AI company that is expanding its Apollo Go robotaxi business to overseas locations in Europe and the Mideast.

Baidu did not have any immediate comment.

Police said reports that taxis were coming to a halt started coming in around 9 p.m., while media reports said multiple people were rescued.

While some passengers were able to exit their taxis on their own, others were afraid to get out because their vehicle had stopped in the middle lane of a ring road with other vehicles passing on both sides, the reports said. Ring roads are elevated roads without traffic lights designed to move traffic quickly in urban areas.

Baidu operates hundreds of robotaxis in Wuhan, which hosted an early pilot project for the company.

Technology

Microsoft Reportedly on Track to Invest $5.5 Billion in Singapore by 2029

FILE PHOTO: A Microsoft logo is seen next to a cloud in Los Angeles, California, US June 14, 2016. REUTERS/Lucy Nicholson/File Photo
FILE PHOTO: A Microsoft logo is seen next to a cloud in Los Angeles, California, US June 14, 2016. REUTERS/Lucy Nicholson/File Photo
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Microsoft Reportedly on Track to Invest $5.5 Billion in Singapore by 2029

FILE PHOTO: A Microsoft logo is seen next to a cloud in Los Angeles, California, US June 14, 2016. REUTERS/Lucy Nicholson/File Photo
FILE PHOTO: A Microsoft logo is seen next to a cloud in Los Angeles, California, US June 14, 2016. REUTERS/Lucy Nicholson/File Photo

Microsoft is on track to invest $5.5 billion in cloud and artificial ⁠intelligence infrastructure in Singapore ⁠through 2029, the ⁠Wall Street Journal reported on Wednesday.

Microsoft did not immediately respond to a ⁠Reuters request for ⁠comment.

The Thai government ⁠said in a statement on Tuesday that Microsoft plans to invest $1 billion in Thailand over the next two years in cloud services and AI infrastructure.

The investment includes developing digital ⁠skills of the Thai workforce, the statement said.

The announcement follows a number of data center investments to support AI, as Southeast ⁠Asia's ⁠second-largest economy looks to speed up projects involving data centers, electronics, and power generation.