Tudatong, NIO's exclusive LiDAR supplier, just got approval to go public - but the numbers reveal a company in crisis. They've fallen from 2nd to 4th place in market share while losing $400M+ annually. With 85% revenue dependency on NIO and competitors like Hesai already profitable, can Tudatong survive?

In this episode, I break down Tudatong's desperate SPAC listing strategy, their failed premium pricing bet on 1550nm technology, and why their $11.7B valuation might be questionable. We analyze the brutal LiDAR price wars, Hesai's profitability turnaround, and what this means for NIO investors.

Key topics covered:

• Tudatong's financial crisis and cash flow problems
• Why their 1550nm LiDAR strategy backfired
• Market share collapse from 210K to falling behind competitors shipping 500K+ units
• The dangerous 85-91% revenue dependency on NIO
• New customer diversification strategy and its challenges
• Comparison with Hesai and RoboSense success
• What the SPAC listing means for NIO bulls
• Future outlook for autonomous driving sensor market

Whether you're a NIO investor or interested in the autonomous driving industry, this deep dive reveals the harsh realities of the LiDAR market and what's at stake for one of China's struggling sensor companies.