The players filling in the gaps in Asia’s EV ecosystem

This week’s On the Rise maps out Asia’s EV players, spotlights the rising competition in SEA’s EV market, and analyzes Apple’s latest AI launch. [Read from your browser]( On the Rise 🚀 Welcome to On the Rise! Delivered every Tuesday via email and through the Tech in Asia website, this free newsletter breaks down the biggest stories and trends in emerging tech. If you’re not a subscriber, get access by [registering here](. --------------------------------------------------------------- IN FOCUS In today's newsletter, we look at: - The key players in [Asia’s growing EV market]( - The electric [competition between Thailand and Indonesia]( - What Apple’s renewed focus on AI could mean for the industry Hello {NAME} , I have a lot of fond memories of my first car - a 1971 Volkswagen Super Beetle. It took me and my friends over the Santa Cruz mountains, up San Francisco’s hills, and down to Los Angeles for weekend trips. I loved it. But I’ll be the first to admit that my affection for this car would not survive a real life encounter with it today. There were no safety features, minus a pair of dodgy seatbelts; the heater, which pumped in air that was heated by the engine, was an open invitation to [carbon monoxide poisoning](. The car was powered by leaded gasoline, which just [shaved off IQ points]( by the mile. It’s very hard to describe to people who didn’t grow up driving before the ‘90s just how bad automobile technology was. But the good news is that positive advancements in the industry seem to be accelerating. Electric vehicles, which just became commercially available about 10 years ago, are now a major contributor to some countries’ economies. That brings us to this week’s first Big Story, written by my colleague Elyssa. She takes a look at the big picture of EVs in Asia by not only mapping out some of the major players, but also pointing out the gaps in the market that new entrants are looking to capture. Zooming into the Southeast Asia EV market, our second Big Story by my colleague Glenn focuses on the rising competition between Indonesia and Thailand as the dominant EV producers in the region. And finally in AI Odyssey, I’ll be talking about Apple Intelligence, the partnerships that made it possible, and what this means for the generative AI industry. -- Scott  --------------------------------------------------------------- THE BIG STORIES 1️⃣ [Mapping the EV startups accelerating adoption in Asia]( While China-based startups dominate EV manufacturing in Asia, others are playing catch up and filling in the gaps of the region’s EV infrastructure. 2️⃣ [Indonesia seeks to surpass Thailand as electric ‘Detroit of SEA’]( Indonesia and Thailand compete to attract foreign manufacturers of electric vehicles.  --------------------------------------------------------------- AI ODYSSEY Promising AI projects we’re noticing. Ding! Ding! Ding! Are Apple and Microsoft getting ready for another epic fight? Longtime [Apple]( watchers tuning in to the [Worldwide Developers Conference]( 2024 last week might have felt a bit of deja vu, especially during the announcement of [Apple Intelligence]( a series of new AI products. AI isn’t new to Apple. It launched Siri in 2010, but while there have been some advances, it has never really moved [beyond basic voice commands](. Now Apple is promising that Siri will be the interface for a whole [new AI system]( that includes writing and image creation tools. But Siri isn’t what’s bringing on my deja vu. That’s coming from the fact that Apple’s new AI had some help from partners. While some of the architecture was built by Apple, the company has made no secret that ChatGPT, developed by OpenAI, would also be [integrated]( into the iOS operating system. Bringing in partnerships to help fill gaps in Apple’s ecosystem is also nothing new. Apple accepted a US$150 million investment from [Microsoft in 1997]( which led to the Internet Explorer becoming Apple’s default web browser and brought Office to the Mac. In 2005, [Apple partnered with Intel]( to replace Apple’s inefficient PowerPC chips. Both partnerships worked well, until Apple caught up with them in terms of technology. That happened to Microsoft in 2003, when Apple launched iWork, which is basically its own version of Office. In 2004, Apple launched Safari, which replaced Internet Explorer as the default web browser on its devices. [For the record]( Google launched Workspace in 2006 and Chrome in 2008, overtaking Apple on both products. In 2020, Apple began [moving away from Intel]( producing its own chips for its home computers. It’s too much to say that Apple is always stabbing its partners in the back, but you have to ask: Is history repeating itself with OpenAI? It’s no small irony that OpenAI’s largest backer is Microsoft. There are no easy answers there. Even investors don’t seem to know which way to go. In intra-day trading last Wednesday, Apple was against the largest companies by [market capitalization]( jumping up nearly 4% to a record share price of US$215.04. It knocked Microsoft out of the top spot, where it had ruled for the last five months. But that didn’t last the day. By the end of trading, Microsoft was again on top. On Thursday, Apple was again on top. You get the picture. There will be two major factors that determine who is going to come out on top. The first is how long Apple will stay with OpenAI as a partner - which is just another way of asking how long it will take the former to develop its own system. Apple’s ability to play catch-up with opposing software [hasn’t always worked well]( and it’s possible that Microsoft will remember how Apple abandoned it before. By the way, these aren’t the only issues between Apple and Microsoft. They’ve been brawling since [the ’80s](. So advantage to Microsoft? Maybe, but the second question is how people will consume AI in the future. Will they use PCs or their own smartphones? There is a lot of [interesting data]( suggesting it could go either way. People and organizations needing high-end, more powerful AI computations will continue to drive the PC and server model, but mass consumer use will probably use a hybrid model that combines on-device services with cloud-based ones. For all its advantages, Microsoft was never able to crack the mobile markets, while Apple’s consumer reach seems untouchable. Currently there are over 1.3 billion people using iPhones. So advantage to Apple? The only clear winners here are the [chip makers]( such as Qualcomm, Intel, and Nvidia - the last of which was holding on to the second spot on the market cap list until Apple’s announcement. By the way, Apple is also [partnering with Nvidia]( to develop the Apple Vision Pro, but that’s a story for another week. -- Scott  --------------------------------------------------------------- NEWS YOU SHOULD KNOW Also check out Tech in Asia’s coverage of the emerging tech scene [here](. 1️⃣ [Binance Coin value jumps as founder’s begins jail term]( BNB, the token of crypto exchange Binance, hit a record high as its founder Changpeng Zhao started a four-month prison term for breaking US anti-money laundering rules. 2️⃣ [Singapore to trial battery swapping, mobile charging for electric heavy goods vehicles]( Trials will start in the second half of 2024, according to the Land Transport Authority. 3️⃣ [India’s Jio to take on Starlink]( Orbit Connect India, a joint venture between Jio Platforms and Luxembourg-based SES, has gained permission from India’s space oversight agency to operate satellites over the country for its gigabit fiber internet. It will compete with satellite internet providers such as Starlink and Amazon’s Kuiper. 4️⃣ [Celeb fandom startup gets funds from Hong Kong tycoon]( Stanly, which connects fans with artists through digital fan clubs and exclusive content, has received US$8 million in pre-series A funding. C Capital - the venture fund owned by Hong Kong business tycoon Adrian Cheng - led the round, with participation from AppWorks, Goodwater, and Palm Drive Capital. 5️⃣ [OpenAI’s Paris-based rival raises $640m]( Co-led by General Catalyst, Mistral AI’s funding round pushed the firm’s value to US$6 billion, according to a TechCrunch report. Co-founded by former Meta and Google DeepMind employees, Mistral AI works on foundational models that aim to compete with OpenAI’s GPT-4o, Meta’s Llama 3, and Anthropic’s Claude 3.  --------------------------------------------------------------- FYI 1️⃣ [China EV makers struggle to break VinFast’s hold in Vietnam]( The Vietnamese electric vehicle major didn’t meet sales expectations in the first quarter of this year. 2️⃣ [Patsnap invested ‘7 digits’ to develop an LLM. Will it pay off?]( The Singapore-based unicorn spent millions to put together a team of over 50 engineers to train its model. ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here]( and Tech in Asia’s signature events [here](. [Tech in Asia Conference Kuala Lumpur 2024 : Malaysia on The Rise on 24 - 25 July]( Join us for Investor Hour, a bespoke 1-1 networking mixers for founders to explore opportunities, get advice, and connect in-person with the right audience. This program offers a unique platform for founders to: - Open doors to the right investors - Receive personalized feedback and advice - Increase your visibility and credibility Apply for Investor Hour today, while slots last! [Tech in Asia x Airwallex Startup Night on June 19]( [Product Development Conference (Jakarta, 25-26 June 2024)]( Seed round or Series C, the struggle to build a winning product is real! Is there a one-size-fits-all strategy for every funding stage? Join us to find out at PDC 2024! Last chance to get 20% off your PDC ticket; this offer ends on June 19th. [Snap up your ticket]( now or risk FOMO!  [FutureMakers Challenge in collaboration with BRI (Jakarta, 25-26 June 2024)]( Are you passionate about fintech and its potential to revolutionize the banking industry in Indonesia? Join the FutureMakers Challenge powered by Bank Rakyat Indonesia (BRI). Don't miss the chance to win prizes worth hundreds of millions of rupiah and tickets to the PDC 2024 for all applicants! Register before June 16, 2024, [here](. [Tech in Asia x Airwallex Startup Night on June 19]( In Singapore's fast-paced startup scene, standing still means falling behind. This exclusive networking mixer is where you'll connect with the movers and shakers from Keppel Logistics, Janio, Carro, Coinhako, and more, who are shaping the future of Singapore's tech landscape. Ready to rewrite your startup story? [Apply for an invite today!](  [Tech in Asia Conference Jakarta on Oct 23-24]( Where is the next Silicon Valley? It might just be Jakarta! Indonesia's young tech talent is booming, and Tech in Asia Conference Jakarta puts you right in the center of the action. Join us at #TIAConferenceJKT to connect with 4000+ region's brightest minds, 150+ hottest startups, and hear straight from 80+ experts. Early-bird tickets are now available! [Snatch the 75% discount while it lasts!]( ---------------------------------------------------------------  That’s it for this edition - we hope you liked it! Do also check out previous issues of the newsletter [here](. Not your cup of tea? You can unsubscribe from this newsletter by going to your “edit profile” page and choosing that option in our preference center. See you soon! [ADVERTISE]( | [SUBSCRIBE]( | [HIRE]( | [FIND JOBS]( P.S. Don't miss out on the biggest tech news and analysis. Add newsletter@techinasia.com to your address book, contacts, or safe sender list. Or simply move us into your inbox. Too many emails? 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