China's Oil Imports Exceed Saudi Arabia's Production; New Technologies in EV Batteries and Hypersonic Missiles
China imports 11 million barrels of oil daily, surpassing Saudi Arabia's production, affecting global oil prices. Batteries powered 22% of new heavy truck sales in H1 2024, a 9.2% increase year-on-year, with projections of 46% market share this year and 60% next year.
A private company has begun mass production of $200,000 containerized hypersonic missiles with advanced AI capabilities. The world's first production line for large all-solid-state EV batteries has started tests.
Notably, a desktop-sized EUV light source is producing 14-nm chips for industrial automation and electric vehicles. In AI, 2,000 contracts worth ¥10 billion were awarded in Q3, primarily in education, government, and finance.
Meanwhile, the U.S. Navy has decided to terminate four ships from its Constellation-class frigate program.
