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Xiaomi achieved a record 29,000 EV sales in March, marking its sixth consecutive month of over 20,000 deliveries. However, a tragic accident involving a Xiaomi SU7 in autopilot mode resulted in three fatalities, prompting ongoing investigations. Competitors Xpeng and Leapmotor also reported strong deliveries, while BYD maintained its market leadership.
Kia is in discussions with Huawei to incorporate smart cockpit solutions in its upcoming electric vehicles, specifically targeting the Chinese market. The collaboration may extend to various technologies, including third-generation electric systems and energy replenishment tech, as Kia aims to enhance its competitiveness in China. The automaker plans to unveil six smart cars between 2023 and 2027 while increasing the use of native components.
In the 2024 global foldable market, Huawei surged by 54% to secure the second position, driven by the success of its Mate X3 and Mate X6 models. In contrast, Samsung, despite leading the market, experienced a 33% decline in sales due to disappointing performance of its Z fold series. Motorola ranked third with a remarkable 253% growth, while OPPO faced a significant drop of 72% after reducing production of its low-priced foldables.
A Xiaomi SU7 caught fire after crashing into a highway guardrail in Anhui, resulting in the deaths of three occupants. Following the incident, Xiaomi's shares fell approximately 5% as the company confirmed the accident and expressed deep regret. The vehicle's NOA function was active at the time, and the company is cooperating with police investigations while continuing to see strong vehicle deliveries.
Huawei has rebounded from sanctions, shipping 12.7 million smartphones in Q4 2024 and capturing nearly 17% of China's market, driven by a focus on premium products and innovation, including the tri-fold Mate XT. Chinese OEMs, particularly Huawei and Xiaomi, dominate the AI smartphone market and foldable phone segment, investing in in-house chip development and proprietary operating systems like HarmonyOS and HyperOS to enhance user experience across devices.
Global markets faced turmoil last week due to new 25% US auto tariffs, raising stagflation concerns amid mixed earnings in Hong Kong. The Nasdaq 100 is testing critical support levels, while commodity prices surged, with oil nearing $70 per barrel and gold hitting $3,086. Key economic data, including China PMI and US employment figures, are anticipated this week.
The US and China are in a fierce competition to lead in humanoid robotics, with Tesla's Optimus project aiming for 5,000 units by 2025, while China's Agibot and Unitree Robotics have set the same target. Unitree's G1 humanoid, priced at $16,000, undercuts Tesla's estimated $20,000 for the Optimus Gen2. China's rapid advancements are highlighted by 5,688 humanoid robot patents filed in five years, significantly outpacing the US's 1,483, bolstered by government support and integration into factories by major companies.
The central bank has issued digital currency to seven banks, including Kookmin and Shinhan, as part of a pilot program. Meanwhile, Xiaomi plans to raise up to $5.27 billion through a share placement for business expansion and tech investment. In Japan, private equity firms are targeting the fragmented HR tech market, driven by low interest rates and a focus on governance, despite challenges from competition and global firms.
Patent applications from China reached a record high in 2024, with Huawei leading the charge, ranking second overall at the European Patent Office. Chinese firms filed 20,081 applications, accounting for 10.1% of the total, with significant growth in battery technology and electrical machinery. Notable companies include CATL, ZTE, Xiaomi, Vivo Mobile, and Tencent, reflecting China's strong innovation capabilities in key technological fields.
Goldman Sachs has downgraded Super Micro Computer (SMCI) to "sell," citing risks in the AI server market, increased competition, and low profit margins, with a new price target of $32. Meanwhile, AI startup Fyxer raised $10 million, and major tech firms like Tesla and AMD saw significant stock gains. Apple faces a 21% drop in iPhone shipments in China, while Microsoft and Salesforce are noted for their resilience amid potential software spending slowdowns.
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