Key Highlights from Last Trading Session (9/21) :

It’s a smartphone that NIO CEO Li Bin describes as necessary to allow seamless connection with NIO’s lineup of electric vehicles. The NIOPhone is positioned as a flagship premium smartphone priced between RMB 6,499 ($890) and RMB 7,499 ($1,027), placing it in the same price category as the iPhone 15 and Huawei’s Mate 60 Pro. The company plans to initially sell just 50k of these smartphones, which means it shouldn’t be seen as a significant revenue contributor in the future. Meanwhile, the company also named its self-developed LiDAR control chip, called “Yang Jian”. LiDAR, short for light detection and ranging, is a technology now increasingly in use in the development of driverless vehicles, which is starting to hit mainstream in some Chinese cities in the form of robot-taxis.

Qualcomm, which generates 60% of its handset chip revenues in China, operates an R&D facility in Shanghai and the rumored cuts follow layoffs at China operations of US tech firms Dell and Marvell. One reason for the downsizing of operations may be due to the worsening geopolitical situation brought about by US sanctions against Chinese firms’ access to Western technology, while another reason is possibly due to the lackluster market for smartphones in China and the rest of the world. Qualcomm is also seen as a big loser of Chinese customer orders due to Huawei’s development of Kirin chips capable of powering its latest 5G smartphone.

At a price tag of RMB 1.98 million ($150k), the U8’s quad-motor generates a maximum power of 880kW equivalent to 1,200HP and can go from 0 to 60 miles per hour in just 3.6 seconds. Quad-motor means four motors delivering instant power to each wheel and independently adjusts torque for precise traction. That gives the U8 off-road capabilities to rival the Range Rover Defender and Mercedes G-Wagon models, although it’s unlikely that these SUVs will ever see anything more than the well-manicured lawns of weekend park-and-camp sites. It’s interesting to see just how well the market will accept BYD’s premium SUV model, as it has done so favorably wit the company’s other brands of EVs and hybrid electric vehicles.

Gallium and germanium aren’t rare metals but the production of these two metals is dominated by China, and their use in a range of high tech and military applications have caused a lot of anxiety in the global markets spanning from led lights to semiconductors. China’s Ministry of Commerce said that certain applications for export licenses have been approved, although the government reserves the right to continue reviewing these applications given their dual-use nation (i.e. could be used for military applications by nations not friendly to China).