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Mobility

China\'s June crude imports plunge 41 percent, focuses on electric taxis to ease oil supply strain

China’s crude oil imports fell to their lowest level in nine years in June, with rising electrification in taxis and ride-hailing seen as a key driver of lower oil use amid supply worries around the Strait of Hormuz. June imports dropped 41.3 percent year on year to 29.27 million tons. Gasoline and diesel consumption fell even as travel and freight rose, while analysts and experts expect further declines in fuel demand and refinery utilisation.

AI & Enterprise

Musk\'s xAI wins final approval for APR Energy acquisition to secure power for AI

Elon Musk has acquired mobile power equipment company APR Energy to secure electricity for xAI data centres needed to run the Grok AI service, the article said. The deal was cleared after the U.S. Federal Trade Commission ended its merger review early, allowing approval without additional antitrust scrutiny. The purchase has drawn attention as xAI relies on gas turbines at its Memphis supercomputer site and faces environmental lawsuits and regulatory scrutiny over emissions and permitting.

Mobility

U.S. Senate panel moves to bar Chinese EV sales; Tesla shifts from EVs to robots

The U.S. Senate Commerce Committee plans a vote on a bipartisan bill that would effectively ban Chinese automakers from selling passenger EVs in the United States and further restrict entry into the small-car market. Tesla is removing the Model S and Model X assembly line at its Fremont plant and converting the space for humanoid robot Optimus production. Tesla will shift its supervised FSD option in South Korea from a lump-sum payment to a monthly subscription from Aug. 10.