Apple’s New China R&D Lab 🍏 LA’s Historic BYD Electric Bus Order ⚡️ China Wins Big at Olympics 🥇

2024-07-29 | subscribe | homepage

Welcome back to this week’s edition of the China Insights Weekly Newsletter!

Some of the key takeaways this week:

• $1.4 Billion R&D: Apple expands with a new lab in Shenzhen, bringing its total investment in China’s R&D to USD 1.4 billion.

• 77.4% NEV Penetration: Shenzhen sets a record with a 77.4% NEV penetration rate in June.

• $1.2 Billion Deal: BioNTech partners with Nanjing Triastek in a groundbreaking drug development agreement.

Dive deeper into these stories and more by clicking the headlines below. We value your feedback—let us know your thoughts or suggestions on LinkedIn or Facebook.

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🚀 Headlines

Apple is expanding China R&D to open a Shenzhen lab (link), while it drops out of the top 5 vendors in China for the first time (link)

Apple is close to opening its new materials lab in Shenzhen. Apple has invested over RMB 1 billion (USD 138 million) into its new applied research labs in China. The addition of Shenzhen now brings Apple's R&D centers in China to four. The purpose of the lab is to analyze materials and test the reliability and quality of Apple products. Apple also expanded its applied research lab in Shanghai. Apple’s R&D is increasing while its market share has been shrinking in China, down to 14% in the second quarter compared with 15% in the first quarter and 16% a year earlier. The Chinese market grew 10% in the 2nd quarter from last year, the 1st quarter ever when domestic vendors dominated all the top 5 positions.