Samsung Heavy Industries is facing legal action over the cancellation of a $1.1 billion order for two oil tankers from a Russian company. The South Korean shipbuilder has filed a lawsuit in London against Sovcomflot, alleging breach of contract. The cancellation of the order is said to be due to the impact of the COVID-19 pandemic on the oil market.
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Former Huawei ‘Genius Youth’ recruit says new venture can now mass produce humanoid robots
Shanghai-based start-up Agibot, founded by former Huawei recruit Peng Zhihui, has begun mass production of its AI-powered humanoid robots, producing 962 units by December 15. Peng, known for viral inventions like an Iron Man-inspired robotic arm, left Huawei in 2022 to start Agibot, which is backed by investors like Hillhouse Investment and BYD. The move by Agibot intensifies competition in China's robotics industry, with local governments supporting the sector's growth. Full Article
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