It’s good to be back.

I had an awesome holiday in South Korea, getting my annual dose of Kpop and Korean food (I am all Kimchi-ed out now).

This week, I am looking into the troubles in the Chinese electric vehicle (EV) industry as EV players have once again cut prices.

Could Build Your Dreams (BYD) actually be building a nightmare?

But before that, check out my video of the week…

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Moving on, here are the news that shocked the world…

Tariff Deal? $SPX ( ▼ 1.13% ) : China and the U.S. officials have reached a trade deal. The catch? Both President Trump and President Xi have to sign on it. Tough briefing session. [Read More]

Apple $AAPL ( ▼ 1.38% ) : Apple just launched its range of new software products which includes macOS Tahoe, Vision pro updates, ‘Liquid Glass’, and ChatGPT Playground [Read More]

General Motors $GM ( ▼ 1.24% ) : GM finally succumbed to Trump’s pressure? It is planning to invest US$4 billion in the U.S. plants as its Mexico plants are hit by Trump tariffs [Read More]

Meta X Scale AI $META ( ▼ 1.51% ) : Meta is establishing a new AI research lab with Scale AI’s CEO, Alexandr Wang to build a competitive edge in the AI space. [Read More]

Oklo $OKLO ( ▼ 1.27% )  : Oklo is going nuclear! Literally. It has reportedly won a contract from the Eielson Air Force base to provide nuclear power [Read More]

Here are the news covering the Asia market…

China EV : China EV sales grew by 13.9% in May 2025 but the industry has once again slashed prices to outcompete each other [Read More]

DBS: SG$100 billion? DBS is the first company to achieved that market capitalisation in the Singapore market. That brings it to the 22nd largest bank in the world [Read More]

Boustead: REIT spin-off? Boustead Singapore is exploring the sale of some of its assets to a REIT for a potential listing in the Singapore market. [Read More]

Koh Brothers: Koh Brothers has been awarded a SG$1 billion contract to build intra-terminal tunnels at Terminal 5 with Penta-Ocean Construction [Read More]

Grab $GRAB ( ▼ 1.3% )  : Grab is planning to sell US$1.5 billion of convertible bonds into stocks to have more cash to splurge on acquisitions. Its plan to acquire GoTo has stalled [Read More]

See below for our handpicked analyst reports:

“Right this way, Mrs Chin. This is the newest EV model by Great Wall Motor. We have recently cut the price by 10%”

Mrs Chin, like many Chinese consumers, just glances over. She then folds her arm and say, “Can you go cheaper? BYD’s one is 20% lower. If not, I will just go next door”

The salesman holds his tongue, smiles and takes out a a list of prices, “Just for you, Madam, we are willing to cut by 25% for you.”

China’s electric vehicle industry is on the cusp.

EV players are still cutting prices left, right and centre in order to gain market share from each other.

And that has resulted in EV prices plummeting to the floor.

However, they are still making more and more, without considering the demand side of it.

In simple economics, if consumers demand more, prices will increase. If companies supply more, prices will drop.

Considering that prices of EVs have dropped even further, I think it’s safe to say that demand is not keeping up with supply.

EV makers are producing more even though less Chinese people are buying.

While EV sales in China are still growing strong, there are already signs it might be slowing.

EV sales growth was at 13.9% in May 2025, lower than 14.8% in April 2025.

And yes, there is a reason to be worried about the sustainability of this price war.

• In 2024, China’s average wages grew by just 2.5%, much lower than the historical average of 8.5% from 2016 to 2023.

• Margins for EV players are declining sharply due to the price war.

For now, things are set to worsen before any signs of recovery is in sight…

Did you know?

The smartphone is more addictive than cocaine.

An average person checks his or her phone for 94 times a day. And it’s hours of doom scrolling that don’t really improve your life.

However, there is a habit that could save us.

Creating and producing something.

It doesn’t really matter what, but the act of producing something provides relief and satisfaction that gives the same dopamine effect of scrolling mindlessly.

Next time you feel the urge to scroll on your phone, take the time to research a company to see whether it’s a worthwhile investment.

Doing enough of this every day improves your ability to assess companies, and your investment journey.

Hope the above is fruitful for you all!

Cheers,
James Yeo