After Southeast Asia, Chinese tech is eyeing Central Asia next. Plus, Carro rewires its Indonesia business ahead of a potential IPO.
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IN FOCUS

  • Destination Central Asia for Chinese tech?
  • Carro changes lanes in Indonesia as IPO approaches
  • Voice AI giant Deepgram says "hello, lah" to Singapore

Hello reader,

Having lived away from Northern Ireland for more than 14 years, I tend to see changes in my home country all at once when I make a visit, not gradually as someone living there might.

One change that stood out on my most recent trip this summer was the presence of BYD dealerships. I even spotted a few of the Chinese firm's electric cars on the roads, something that would have been hard to imagine when I was growing up.

While my perception of the pace of change at home is normally skewed, I think this time it's accurate. A quick Google search shows me that BYD only entered the market in mid-2025, but it already has three dedicated showrooms in the country.

It's a reminder that Chinese trade and manufacturing usually show up in a country long before Chinese tech does, a gap today's first featured story explores. Guest writer Alec Tseung, a partner at principal investments and research company KT Capital Group, breaks down how firms like BYD and Mixue are already entrenched in Central Asia while tech giants hold back - and what that gap means for Southeast Asian tech firms eyeing the region themselves.

Meanwhile, my colleague Jofie reports on used-car marketplace Carro's efforts to grow in Indonesia ahead of a potential IPO. Surprise, surprise: Chinese EVs are putting significant pressure on prices.

Peter Cowan, engagement editor


TOP STORIES

1️⃣ Chinese tech is coming to Central Asia. Can SEA compete?

Whereas Chinese tech firms were once very aggressive with expansion in Southeast Asia, they've been more cautious entering Central Asia. This makes sense, given the region's tech scene is dominated by local and Russian giants.

However, there are early signs of that changing, with Tencent, Temu, and JD.com all making moves into Central Asia. Whether that's the start of a bigger push or just tech giants testing the water remains to be seen.

2️⃣ Carro switches gears in Indonesia as focus shifts to new cars

Carro is rejigging its business in Indonesia, pulling back from used-car sales and leaning into B2B rental and financing instead. On top of those, it's finding a way into new cars through partnerships with Chinese brands like Jaecoo and Chery.

It shows how differently a startup can operate between its markets once an IPO comes into view.


FROM OUR ARCHIVES

The Starbucks vs. Luckin debate misses the real winner

Mixue is already living out Tseung's thesis. After saturating Southeast Asia, the bubble tea and ice cream giant opened a branch in Kazakhstan last April and in Kyrgyzstan this June.

This piece from October 2025 explains why that expansion works. In short, consumers aren't buying milk tea - they're buying cheap, personal, dopamine-driven emotional satisfaction.

That's a playbook Chinese trade and manufacturing already know how to run, well before Chinese tech shows up.


TRENDING NEWS

1️⃣ US voice AI firm Deepgram to set up APAC HQ in Singapore

EDBI, the investment arm of SG Growth Capital, recently participated in an extension of Deepgram's US$130 million series C round.

2️⃣ Alibaba unveils HappyShrimp AI song generator in China

HappyShrimp 1.0 generates melodies, arrangements, lyrics, and vocals, and it also supports user-submitted lyrics. The development comes as China prepares to roll out new AI content-labeling rules on September 1.

3️⃣ LG Electronics to train humanoid robots with Nvidia software

The robots will learn home-cleaning tasks as well as transport, loading, and assembly work. They will be trained in a simulated factory environment modeled on LG's washing machine plant in Tennessee.

4️⃣ Warner Music Group to expand global tech with Bengaluru hub

Set to open in September, the hub will support music distribution, data infrastructure, and engineering work, as well as audience and marketing data products.

5️⃣ Anthropic revenue run rate surpasses $65b ahead of IPO

The Claude developer's revenue run rate reportedly topped US$9 billion in late 2025 and passed US$47 billion in May this year.


YOUR POINT OF SALE IS NOW MOBILE

In partnership withAdyen

Southeast Asia's payments landscape continues to evolve and expand. But accepting a myriad of cards and payment methods at your store means little when cashiers are slammed, the queue to pay is stretching out the door, and customers decide they'd rather leave than wait in line.

Mobile point-of-sale (mPOS) solutions have addressed those issues. Merchants can now accept payment methods anywhere in their stores through wireless terminals. And with the arrival of Tap to Pay on iPhone, where the phone itself becomes a payment terminal, merchants can create greater flexibility and eliminate queues.

Tap to Pay on iPhone is available with fintech firm Adyen. Learn more about Adyen's mPOS solutions and the opportunities its platform offers your business.


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EVENTS HAPPENING

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This is your last chance to be in the room

This is your last chance to be in the room

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Sign up here.

Scaling AI for millions

Scaling AI for millions

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Catch this session only at Tech in Asia Conference.


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