Chinese electric vehicle giant BYD is set to report impressive profits once again. The company announced on the 17th that it expects its net profit attributable to the parent company for the first three quarters of this year to be between CNY 20.5 billion and CNY 22.5 billion, an increase of 120.16% to 141.64% year-on-year. In the third quarter, the estimated net profit is set to reach CNY 9.546 billion to CNY 11.546 billion, representing a year-on-year growth of 67% to 101.99%. This quarterly performance mirrors the profitability achieved in the first half of the year.

BYD noted that the new energy vehicle industry continued its robust growth in the third quarter, with BYD achieving historic highs in new energy vehicle sales, maintaining its position as the world’s top seller of such vehicles. Looking at BYD’s monthly sales figures for the first three quarters of this year, the company consistently achieved record-high monthly sales. In September, BYD’s new energy vehicle sales exceeded 280,000 units, with cumulative sales for the first nine months reaching 2.0796 million units.

Furthermore, BYD mentioned that there was a “recovery in demand from Android customers” for its mobile parts and assembly business. BYD Chairman Wang Chuanfu previously stated, “We manufacture many phones, and most of Huawei’s phones are made by us.” This statement gained significant attention on social media. Subsequently, on August 29, the highly anticipated Huawei Mate 60 Pro was released and received a warm reception from consumers. This was followed by the releases of Huawei Mate 60 Pro+ and Huawei Mate X5, which joined the vanguard project.

BYD’s mobile parts and assembly business is primarily managed by its subsidiary, BYD Electronic. BYD Electronic also predicts strong profits, expecting its net profit attributable to the parent company for the first three quarters of this year to be between CNY 2.836 billion and CNY 3.116 billion, an increase of 129.29% to 151.93% year-on-year. The company stated that increased profits are mainly due to a rising proportion of overseas major customers, a rebound in Android customer demand, and continued rapid growth in new energy vehicles and new smart products, which have led to improved utilization of the group’s production capacity, further optimized business structure, and substantial profit growth.

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(Photo credit: BYD)

In an event held on October 18, 2023, Foxconn Chairman Young Liu unveiled the company’s latest electric vehicle, MODEL N, demonstrating Foxconn’s comprehensive vertical integration capabilities. He also encouraged traditional automotive companies to harness Foxconn’s strengths for their future endeavors.

Chairman Young Liu expressed his excitement at the event, saying, “I am so excited to show off our latest EV model. This is MODEL N. With this new EV, we demonstrate a full range of vertically integrated capabilities. Traditional automotive companies, yes, I’m talking to you-can tap in all of these.”

He highlighted Foxconn’s achievements in the automotive industry over the past three years, including the introduction of various eye-catching products such as high-end sedan, passenger crossover, SUV, compact pick-up, commercial bus, and commercial van.

Chairman Liu emphasized that Foxconn’s CDMS (Commissioned Design and Manufacturing Service) business model provides the automotive industry with total and bespoke solutions. This business model significantly reduces costs and shortens time to market, which are critical factors for the future success of EV.

During the event, attendees had the opportunity to explore Foxconn’s electric logistics vehicles in the morning. In the afternoon, they were introduced to LEO, Foxconn’s Low Earth Orbit satellite. This satellite has already been packed and is scheduled to launch next month.

Chairman Liu mentioned that, before this, two of Foxconn’s CSO would setp onto the Tech Day stage to share their insights and perspectives on the EV and semiconductor industries.

(Photo credit: Foxconn’s Stream)

With the approach to the end of 2023, TrendForce revealed the tech trends in every sector, apparently, AI continues as the main focus to decide the direction of how the tech supply chain will be in the next few years, here are the seeings:

CSPs increase AI investment, driving a 38% growth in AI server shipments by 2024

• CSPs increase AI investment, fueling a 38% growth in AI server shipments by 2024.
• Major CSPs like Microsoft, Google, and AWS are driving this growth due to the rising popularity of AI applications, pushing AI server shipments to 1.2 million units in 2023.

HBM3e set to drive an annual increase of 172% in HBM revenue

• Major memory suppliers are set to introduce HBM3e with faster speeds (8 Gbps) to enhance the performance of AI accelerator chips in 2024–2025.
• HBM integration is becoming common among GPU manufacturers like NVIDIA and AMD, and it is expected that HBM will significantly contribute to memory suppliers’ revenues in 2024, with an annual growth rate of 172%.

Rising demand for advanced packaging in 2024, the emergence of 3D IC technology

• Leading semiconductor firms like TSMC, Samsung, and Intel are emphasizing advanced packaging technology’s importance in boosting chip performance, conserving space, reduce power usage, and minimize latency. They’re establishing 3D IC research centers in Japan to underscore this role.
• Generative AI is driving increased demand for 2.5D packaging tech, integrating computing chips and memory with a silicon interposer layer. Additionally, 3D packaging solutions like TSMC’s SoIC, Samsung’s X-Cube, and Intel’s Foveros.

NTN is set to begin with small-scale commercial tests, broader applications of this technology are on the way in 2024

• Collaboration between satellite operators, semiconductor firms, telecom operators, and smartphone makers is growing due to increased satellite deployments by operators. This collaboration focuses on mobile satellite communication applications and bidirectional data transmission under specific conditions.
• Major semiconductor manufacturers are ramping up efforts in satellite communication chips, leading top smartphone manufacturers to integrate satellite communication into high-end phones using the SoC model, which is expected to drive small-scale commercial testing of NTN networks and promote widespread adoption of NTN applications.

6G communication to begin in 2024, with satellite communication taking center stage

• 6G standardization begins around 2024-2025, with initial technologies expected by 2027-2028. This enables novel applications like Reconfigurable Intelligent Surfaces (RIS), terahertz bands, Optical Wireless Communication (OWC), NTN for high-altitude comms, and immersive Extended Reality (XR) experiences.
• Low-orbit satellites will play a key role in 6G as its standards solidify, peaking around the time of 6G commercialization. The use of drones for 6G communication and environmental sensing is also set to surge in the 6G era.

Innovative entrants drive cost optimization for Micro LED technology in 2024

• In 2023, the focus in Micro LED display technology is on cost reduction through chip downsizing, aiming for at least a 20-25% annual reduction. A hybrid transfer approach, combining stamping and laser bonding, is gaining attention for efficient mass production.
• Micro LED holds potential in micro-projection displays for transparent AR lenses. Challenges include achieving ultra-high PPI with 5 µm or smaller chips, particularly with red LEDs’ low efficiency. Various innovative approaches, such as InGan-based red LEDs and vertically stacked RGB LEDs.

Intensifying competition in AR/VR micro-display technologies

• Increasing AR/VR headset demand drives demand for ultra-high PPI near-eye displays, with Micro OLED technology at the forefront, poised for broader adoption.
• Challenges in brightness and efficiency impact Micro OLED displays and their dominance in the head-mounted display market depends on the development of various micro-display technologies.

Advancements in material and component technologies are propelling the commercialization of gallium oxide

• Gallium oxide (Ga₂O₃) is gaining prominence for next-gen power semiconductor devices due to its potential in high-voltage, high-temperature, and high-frequency applications in EVs, electrical grids, and aerospace.
• The industry is already producing 4-inch gallium oxide mono-crystals and advancing Schottky diode and transistor fabrication processes, with the first Schottky diode products expected by 2024.

Solid-state batteries poised to reshape the EV battery landscape over the next decade

• Major automakers and battery manufacturers are investing in solid-state and semi-solid-state battery technologies, aiming for a new cycle of technological iteration by 2024.
• After Li-ion batteries, sodium-ion batteries, with lower energy density, are suitable for budget-friendly EVs, and hydrogen fuel cells offer long-range and zero emissions, primarily for heavy-duty commercial vehicles, with widespread adoption expected after 2025, despite challenges.

BEVs in 2024 rely on power conversion efficiency, driving range, and charging efficiency

• Automakers are optimizing battery pack structures and material ratios to increase energy density and driving range. Solid-state batteries, with high energy density, may see limited installations in vehicles as semi-solid batteries in 2H23.
• The 800V platform will enable high-power fast charging, leading to the expansion of high-power charging stations. AI advancements are driving EVs toward advanced autonomous driving, with Tesla’s Dojo supercomputer investing in neural network training to maintain its position in the intelligent driving market.

Green solutions with AI simulations emerging as a linchpin for renewable energy and decarbonized manufacturing

• Under the background of optimizing energy consumption, creating interconnected data ecosystems, and visualizing energy flow and consumption. Carbon auditing tools and AI are key for organizations aiming to reduce carbon emissions and enhance sustainability.
• The IEA predicts global renewable energy generation to reach 4,500 GW by 2024, driven by policy support, rising fossil fuel prices, and energy crises. The adoption of AI-driven smart technologies in peripheral systems for stable energy generation.

OLED’s expansion will across various applications driven by the innovation of foldable phones

• OLED folding phones are improving in design by using lightweight materials, innovative hinge structures, and cost-reduction efforts to approach the thickness and weight of traditional smartphones.
• In the IT sector, industry players like Samsung, BOE Technology, JDI, and Visionox are making significant investments and developments in OLED technology to expand into various markets. Anticipated advancements in technology and materials are expected to increase OLED market penetration by 2025.

As the global competition in electric vehicle power batteries intensifies, Chinese battery giant CATL (Contemporary Amperex Technology Co., Ltd.) has been unveiling its new generation of automotive power batteries. Notably, during the “2023 Chery Tech Day” event, multiple batteries from CATL were showcased, with a strong focus on their second-generation sodium-ion battery.

According to a report by “mydrivers,” although several of CATL’s batteries were showcased during Chery’s event, including the Shenxing Superfast Charging Battery, Qilin Battery, and Sodium-ion batteries. It is set to be the debut choice for Chery vehicles.

According to data from Tianyancha, a website for querying various information about Chinese companies, Xiaomi Auto, has recently unveiled its “Electric Vehicle Charging and Charging Method” patent.

The patent abstract reveals a charging vehicle and method, featuring a battery compartment for housing batteries, a wireless charging device for wirelessly transferring energy from the batteries to the electric vehicle, and an autonomous driving system. The autonomous driving system guides the charging vehicle to a predetermined relative position in relation to the electric vehicle, enabling wireless energy transmission from the batteries to the electric vehicle.

This disclosure signifies a significant advancement in the automation of electric vehicle charging while simplifying the overall charging process.

It is worth noting that Xiaomi Auto has amassed over 300 authorized patents, with issued more than 700 patents.

Apart from its strides in automotive patents, Xiaomi’s ambitions extend to the broader automotive industry. Tianyancha’s data reveals that Xiaomi has recently established Jingming Technology in Wuhan and Shenzhen, both encompassing automotive sales and services. Xiaomi holds 100% ownership in both companies, each with a registered capital of 10 million RMB.

As per insider information from September, Xiaomi Auto is in the trial production phase, currently producing approximately 50 test vehicles per week. Xiaomi anticipates receiving the approval from the Ministry of Industry and Information Technology by the end of this year, paving the way for full-scale electric vehicle production.

According to Xiaomi’s earlier public plans, the official mass production of Xiaomi vehicles is set for the first half of next year, a timeline that some deem as somewhat delayed. However, at Xiaomi’s Investor Day earlier this year, CEO Lei Jun emphasized that Xiaomi views the auto industry as a century-long endeavor. He expressed confidence in launching Xiaomi vehicles in 2024 and aspired for Xiaomi Auto to rank among the world’s top five automakers within 15-20 years.

Since Lei Jun’s announcement of Xiaomi’s foray into the automotive sector more than two years ago, the electric vehicle market has witnessed significant changes. Evolving government policies regarding new energy vehicles and increased market competition present formidable challenges to new entrants.

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• Xiaomi’s Tongzhou Auto Production Base in Reportedly Final Production Testing

(Photo credit: Xiaomi)