DOCSLIB.ORG

Discounts Launched to Lure New Plate Holders

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Discounts Launched to Lure New Plate Holders 16 | Monday, May 31, 2021 HONG KONG EDITION | CHINA DAILY 10 | Wednesday, March 6, 2019 CHINA DAILY Short Torque Unmanned delivery vehicles run in Beijing Three companies last week were given permits to run their unmanned delivery vehicles on designated open roads in Bei- jing, the first time the Chinese capital will allow such vehicles. Online services company Meitu- an, autonomous vehicle produc- er Neolix and e-commerce company JD received ID num- bers for these vehicles at the eighth international congress of intelligent connected vehicles technology in Beijing. Defiant Ghosn pins hopes on French Fugitive ex-auto magnate Carlos Ghosn is campaigning to clear his name, and hopes an upcom- ing hearing in Beirut with BAIC Group displays its Arcfox-branded new energy vehicle at the 2021 Haikou International New French investigators will help Energy Vehicle & Connected Mobility Show in January. provided to china daily him defend his version of events for the first time since his 2018 arrest in Japan. In an interview last week with The Associated Press, Ghosn addressed his legal Discounts launched to troubles in Japan, France and the Netherlands, his brazen escape, and his new reality in crisis-hit Lebanon. The former chairman of the Renault-Nis- lure new plate holders san-Mitsubishi alliance said he felt empathy for those who are now jailed or on trial for helping him. Lottery announcement stirs up selling frenzy local NEV industry standards among carmakers as competition intensifies and policies, as the Southeast GM voices support Asian country speeds up its shift for unionization toward electrification. By CAO YINGYING yuan ($14,923) with a trade-in “The Chinese government has General Motors now says it will [email protected] subsidy of 20,000 yuan, battery announced clear plans to raise support efforts by the United warranty, free 24-hour rescue and NEV sales to 20 percent of the Auto Workers union to organize This year’s car number plate other services. automotive market by 2025, and employees at two US electric lottery in Beijing has caused a Beijing Hyundai is providing 50 percent by 2035, and as time vehicle battery factories that it’s frenzy among new energy vehicle 400 yuan in cash for new NEV goes on, these look more and building in Ohio and Tennessee makers eager to lure Chinese cus- plate holders who visits one of more achievable,” London-based with a joint-venture partner. tomers who struck it lucky on the their 4S stores. Customers who commodity researcher CRU The company’s statement last lottery results announcement buy its Mistra will receive free Group reported earlier this week about the plants departs day. car maintenance, a replacement month. from its past stance that the As in previous years, Beijing subsidy, interest-free install- Analysts at CRU said that Chi- joint venture, called Ultium offered 100,000 number plates ments and other preferential ser- na may start to target interna- LLC, would decide on a bargain- with 60,000 of them specifically vices. tional buyers in the coming years, ing strategy. allocated for new energy vehicles. With all these promotional given that it already has a head- For the first time this year, 60 events, the 60,000 license plate start in manufacturing scale over Tesla to store local percent of all new plates were holders are expected to boost the West and that government data in China allocated for families. NEV sales in the short term and subsidies to the industry are A total of 32,520 families and models with intelligent features starting to decline. Tesla last week announced it has 21,680 individuals won NEV and strong ranges will be promot- CRU points out that, although set up a data center in the Chi- license plates, with the rest going ed, according to Ma Lianhua, an feasible, exporting electric vehi- nese mainland to store the infor- to companies last week. auto journalist-turned industry cles may not be an easy thing for mation collected locally, The 2021 Li ONE According to the Beijing observer in Beijing. Chinese manufacturers, “but if following a backlash from users Municipal Commission of Trans- Xu Haidong, a senior official at Chinese EVs were price-competi- in the world’s biggest electric port, there were 153,944 families the China Association of Automo- tive, widely available and mar- vehicle market. The US electric and 403,129 individuals applying bile Manufacturers, said that keted appropriately, we believe carmaker, which had denied that for NEV license plates as of while the NEV industry in China that there is no reason why they its vehicles could be used for March 8. is developing fast, the market is could not be successful globally espionage, said it will establish The capital introduced an getting bigger and carmakers are in the coming decade”, the report more data centers in China in the annual quota on new car registra- facing fiercer competition and said. future. It also promised to “take tions in 2011 to ease traffic con- need to pay more attention to Sales of new energy vehicles in care of the security” of that data. gestion and combat smog. From their product quality and brand China rose nearly 250 percent this year, Beijing adjusted its lot- building. year-on-year in the first four Auto output gathers tery to prioritize families. It’s not just at home that Chi- months of this year, according to momentum in UK To capitalize on the raft of new nese NEVs are taking off, with data from the CAAM, and the out- plate holders, NEV makers start- several manufacturers beginning look for the rest of the year British automotive production ed early, launching sales cam- to export their models overseas in remains positive. rose 34,573 percent in April com- paigns last week. recent months. In April, new energy vehicle pared to the same month last BJEV, the new energy arm of Earlier this month, Chinese sales were up 180 percent year- year when just 197 cars were Chinese new energy vehicle maker Li Auto launched the 2021 Li State-owned BAIC Group, has NEV makers Nio and BYD on-year, with more than 200,000 made as factories shut due to a ONE model last week in Beijing. Starting deliveries on June 1, the discounted its prices and services announced they are entering the sold across the country. national lockdown, an industry new model offers an upgrade in multiple aspects including its in a bid to attract potential buy- European market. Xpeng, WM Cui Dongshu, secretary-gener- body said last week. Output electronics and autonomous driving system. Equipped with ers. Motors and SAIC have also al of the China Passenger Car stood at 68,306 cars last month, Journey 3, the latest-generation autonomous chip supplied by The carmaker launched the exported their models overseas. Association estimated that NEV still slightly below April 2019 lev- Chinese artificial intelligence chipmaker Horizon Robotics, the EU5 Plus on Wednesday. Custom- Chinese carmakers have even sales will reach 2.5 million in els, according to figures from the 2021 Li ONE is expected to offer an improved driving assistance ers can get a preferential package helped to draft NEV policies for 2021. Of those, 2.2 million will be Society of Motor Manufacturers system. Since the start of deliveries in December 2019, the Li ONE, if they place an order before the overseas markets. Last week, NEV passenger cars. Total NEV and Traders. the sole model of the startup, has sold a total of 55,000 units. end of August. It is also selling SAIC-GM-Wuling said its subsidi- sales reached 1.37 million last provided to china daily 300 EU5 models priced at 94,900 ary in Indonesia will help draft year. AGENCIES-MOTORING NOTICE OF APPLICATION FOR PLANNING APPLICATION Notice is hereby given to the owners of Lot Nos. 232 (part), 239 (part), 240, 241 (part), 242, 243, 244 (part), 245 (part), 248 (part), 284 (part), 285 (part), 306 (part), 307 (part), 313 (part), 314 (part), 315 (part), 316 (part), 317 (part), 318, 319 (part), 320 (part), 323 (part), 324, 325, 326 (part), 328, 329, 330, 331, 332, 333 (part), 334 S.A (part), 334 RP, 335, 336 (part), 337, 338, 339, 340, 341 (part), 342 (part), 344 RP (part), 345 (part), 346 (part), 348 RP (part) and 349 in DD125, Ha Tsuen, Yuen Long, that we intend to apply under section 16 of the Town Planning Ordinance for the Proposed Temporary Open Storage of Construction Materials with Site Offices for a period of 3 Years in the lots mentioned above together with the adjoining government land. The site area is approximately 18,974.80m2. Best Field Hong Kong Development Ltd. 31 May 2021 Notice of application for planning application at Lots 764 RP (Part) and 768 RP (Part) in D.D. 99, Lots 199 S.C(Part), 200 S.B(Part), 204 RP (Part) and 215 RP (Part) in D.D. 105 and Adjoining Government Land, San Tin, Yuen Long, New Territories. NOTICE is hereby given to the owners of the aforesaid address that we intend to apply for Temporary Logistic Centre with Ancillary Container Vehicle Park, Vehicle Repair Workshop, Refrigerated Warehouse and Car Beauty Service for a Period of 3 Years. Date: 31, May, 2021 Ocean First (Hong Kong) Ltd..
Load more

Recommended publications
  • NEV Users to Get Better Customer Protection
    16 | Monday, August 2, 2021 HONG KONG EDITION | CHINA DAILY 10 | Wednesday, March 6, 2019 CHINA DAILY Firms to help European EV ambitions By LI FUSHENG end of the decade. It said the [email protected] investment will make its battery plant the first gigafactory in Chinese electric car battery China’s dominance France. makers are expanding their pres- of the industry is to “The battery plant is the begin- ence in Europe to support the ning of our cooperation. We will ambitions of native governments be expected given its have comprehensive strategic and carmakers in electrification. huge investments cooperation with Renault, includ- Last year, 1.39 million electric ing green factories, zero-carbon cars and plug-in hybrids were sold and the policies the technology, and the deployment of in the European Union; more than country has smart-charging infrastructure in those sold in China, the world’s Europe. This is just a starting largest single market for such implemented over point,” said Envision Group CEO vehicles. the past decade.” Zhang Lei. This momentum is expected to Earlier this month, Envision continue in the coming years as James Frith, BloombergNEF’s said it would make another invest- car giants, including Volkswagen head of energy storage ment of 423 million pounds ($576 and Daimler, have revealed a mas- million) to build a gigafactory in sive shift toward electrification the United Kingdom. and EU governments are imposing cell factory layout, machinery and This would be part of a flagship stricter rules on gasoline vehicles. production processes,” said the EV hub project with Japanese car- However, as Europe’s battery group that owns brands including maker Nissan.
    [Show full text]
  • Le 17H00 26/11/2020
    LE 17H00 26/11/2020 ATHLON FRANCE TRAVAILLE AU DÉPLOIEMENT D’UNE OFFRE DE MOBILITÉ Opérationnelle aux Pays-Bas, l’offre Athlon Flex, anciennement ChangeMyCar, sera testée en France en 2021 auprès d’un client pilote. « Athlon International avait conclu après une longue étude que les conducteurs avaient besoin de beaucoup plus de flexibilité, de pouvoir changer de voiture beaucoup plus souvent, alors que les contrats de LLD courent généralement sur trois ou quatre ans et bloquent tout changement sur cette période. Or il se trouve que la vie des conducteurs peut changer, ils peuvent par exemple avoir des enfants et avoir donc avoir besoin d’un véhicule plus grand », explique Gérard de Chalonge, directeur commercial et marketing d’Athlon France. L’idée centrale d’Athlon Flex est que les employés choisissent et modifient les solutions qui correspondent à leurs besoins de mobilité changeants. Un jeune diplômé qui commence tout juste son premier emploi peut combiner une voiture, un vélo et les transports en commun. Les employés peuvent conduire à une voiture électrique au quotidien tout en conservant la flexibilité nécessaire pour revenir à une voiture thermique pour les vacances. Les jeunes familles peuvent quant à elle passer à une voiture familiale pour s’adapter à leurs enfants. Il s’agit en quelque sorte d’un budget mobilité dernière génération qui repose sur une application mobile. La prochaine étape sera un déploiement sur le marché français. Gérard de Chalonge précise que l’offre sera testée en 2021 auprès d’un client pilote, l’objectif étant « d’adapter le dispositif à notre culture, au contexte et aux besoins locaux car la maturité des Pays-Bas sur les questions de mobilité est plus avancée que la nôtre ».
    [Show full text]
  • Development & Policy Forecast for Global and Chinese NEV Markets
    Development & Policy Forecast for Global and Chinese NEV Markets in 2021 Invited by China EV 100, officials and experts from domestic and foreign government agencies, industry associations, research institutions and businesses attended the 7th China EV 100 Forum in January 15-17, 2021. The summary below captures the observations and insight of the speakers at the forum on the industry trend and policy forecast in the world and China in 2021. Ⅰ. 2021 Global & China Auto Market Trend 1. In 2021, the global auto market may resume growth, and the NEV boom is set to continue. 2020 saw a prevalent downturn of the auto sector in major countries due to the onslaught of COVID-19, yet the sales of NEVs witnessed a spike despite the odds, with much greater penetration in various countries. The monthly penetration of electric vehicles in Germany jumped from 7% to 20% in half a year and is expected to hit 12% in 2020, up 220% year on year; Norway reported an 80% market share of EVs in November, which is projected to exceed 70% for the whole year, topping the global ranking. Multiple consultancy firms foresee a comeback of global sales growth and a continuance of NEV boom in 2021 as coronavirus eases. 2. China's auto market as a whole is expected to remain stable in 2021, 1 with a strong boost in NEV sales. In 2020, China spearheaded global NEV market growth with record sales of 1.367 million units. The Development Research Center of the State Council expects overall auto sales to grow slightly in 2021, which ranges 0-2%.
    [Show full text]
  • AS of 03-Sep-2021 Solactive China Automobile Performance-Index
    FACTSHEET - AS OF 24-Sep-2021 Solactive China Automobile Performance-Index DESCRIPTION The Solactive China Automobile Index tracks the performance of the biggest Chinese Companies active in the automobile sector. The index is calculated as a total return index in Euro and adjusted annually. HISTORICAL PERFORMANCE 500 400 300 200 100 Jan-2011 Jan-2012 Jan-2013 Jan-2014 Jan-2015 Jan-2016 Jan-2017 Jan-2018 Jan-2019 Jan-2020 Jan-2021 Solactive China Automobile Performance-Index CHARACTERISTICS ISIN / WKN DE000SLA0CA9 / SLA0CA Base Value / Base Date 100 Points / 25.10.2010 Bloomberg / Reuters SOLCA Index / .SOLCA Last Price 417.28 Index Calculator Solactive AG Dividends Reinvested (Total Return Index) Index Type Industry / Sector Calculation 09:00am to 10:30pm (CET), every 60 seconds Index Currency EUR History Available daily back to 25.10.2010 Index Members 14 FACTSHEET - AS OF 24-Sep-2021 Solactive China Automobile Performance-Index STATISTICS 30D 90D 180D 360D YTD Since Inception Performance -11.05% -10.11% 2.64% 46.01% -6.04% 315.08% Performance (p.a.) - - - - - 13.93% Volatility (p.a.) 29.21% 36.07% 31.25% 36.66% 34.70% 31.36% High 485.13 485.13 485.13 491.81 491.81 491.81 Low 417.28 417.28 363.82 285.78 363.82 56.41 Sharpe Ratio -2.58 -0.96 0.19 1.29 -0.22 0.46 Max. Drawdown -13.99% -13.99% -14.00% -26.02% -26.02% -50.32% VaR 95 \ 99 -57.3% \ -93.4% -49.5% \ -82.7% CVaR 95 \ 99 -76.9% \ -120.7% -70.2% \ -108.8% COMPOSITION BY CURRENCIES COMPOSITION BY COUNTRIES KY 46.7% HKD 80.2% CN 39.7% USD 19.8% US 13.6% TOP COMPONENTS AS OF 24-Sep-2021
    [Show full text]
  • Article No.12
    Originally published on LinkedIn on 11th November 2020: https://www.linkedin.com/pulse/chinese- customer-premiumization-budgetization-product-dr-jan-burgard/ Dr. Jan Burgard Executive Partner; Co-Founder at Berylls Strategy Advisors 4 successful brand strategies for the Chinese automotive market in 2020 and 2021 Chinese OEMs and to a lesser extent Western brands are introducing a number of new upscale/premium and budget brands • Volume brands are pressured to opt for premium and/or budget strategies because markets drift apart • The budget strategy requires superior cost structure and the premium strategy means an uneasy uphill battle which quite a few players may fail. The world of gasoline vehicles is difficult to penetrate while NEVs offer vastly more new chances • Berylls has identified 4 key success factors for any OEM to successfully set up its own new premium or budget brand Market drifts apart Our “CUSTOMER BEHAVIOR IN THE FACE OF COVID-19” study has revealed some interesting findings. It shows that a large portion of Chinese consumers are planning to buy a premium vehicle despite the COVID-19 pandemic. BERYLLS STRATEGY ADVISORS GmbH CONTACT www.berylls.com Dr. Jan Burgard T +49 89 710 410 40-0 [email protected] Maximilianstraße 34 [email protected] 80539 Munich On the other hand, market share of local Chinese brands has been constantly increasing up until 2018. Chinese local brands are mostly volume/budget brands. It seems, the market is drifting apart. New brands change the landscape Just a few years ago the Chinese automotive landscape was clear. There were basically 4 types of players.
    [Show full text]
  • Popular Chinese Nevs Slide in Value As Share Prices Tumble
    16 | Monday, March 1, 2021 HONG KONG EDITION | CHINA DAILY 10 | Wednesday, March 6, 2019 CHINA DAILY Popular Chinese NEVs slide in Short Torque Tesla to cut Model 3 Foxconn, Fisker to production in the US team up on EV project Electric vehicle maker Tesla plans Electric vehicle maker Fisker said to slash production of the Model it will work with Apple supplier value as share prices tumble 3 sedan for two weeks, sources Foxconn to produce more than told Reuters on Thursday. It 250,000 vehicles a year from late comes at a time when demand is 2023. The deal, codenamed Over valuation in Nio, slowing for Tesla cars and the “Project PEAR” (Personal Electric market faces a chip shortage. Automotive Revolution), is look­ Xpeng and Li Auto They were not aware of the cause ing at markets globally including leave startups more of the production slowdown but North America, Europe, China susceptible to market one person said a chip shortage and India, Fisker said. Foxconn, may have influenced the produc­ Apple’s main iPhone maker, has volatility, fluctuations tion cutback, which would last ramped up its interest in electric until March 7. Tesla said last vehicles over the past year or so, month that it might face tempo­ announcing deals with Chinese By ZHANG DANDAN rary effects from a global semi­ electric vehicle maker Byton and [email protected] conductor shortage and logistics automaker Zhejiang Geely Hold­ disruption at ports. ing Group. hinese electric vehicle mak­ ers Nio, Xpeng and Li Auto Stellantis holds talks Goodyear gets its have experienced sharp declines in market value in on UK car plant future grips on Cooper Cthe past few weeks, as investor con­ Stellantis, the newly­formed Two of the biggest­remaining US fidence wavers on multiple factors, European carmaker, said on tire companies are joining forces.
    [Show full text]
  • Annual Report DBX ETF Trust
    May 31, 2021 Annual Report DBX ETF Trust Xtrackers Harvest CSI 300 China A-Shares ETF (ASHR) Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF (ASHS) Xtrackers MSCI All China Equity ETF (CN) Xtrackers MSCI China A Inclusion Equity ETF (ASHX) DBX ETF Trust Table of Contents Page Shareholder Letter ....................................................................... 1 Management’s Discussion of Fund Performance ............................................. 3 Performance Summary Xtrackers Harvest CSI 300 China A-Shares ETF ........................................... 6 Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF .................................. 8 Xtrackers MSCI All China Equity ETF .................................................... 10 Xtrackers MSCI China A Inclusion Equity ETF ............................................ 12 Fees and Expenses ....................................................................... 14 Schedule of Investments Xtrackers Harvest CSI 300 China A-Shares ETF ........................................... 15 Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF .................................. 20 Xtrackers MSCI All China Equity ETF .................................................... 28 Xtrackers MSCI China A Inclusion Equity ETF ............................................ 33 Statements of Assets and Liabilities ........................................................ 42 Statements of Operations ................................................................. 43 Statements of Changes in Net
    [Show full text]
  • NIO INC. (Ticker: NIO) LBIRLBIR Recommendation Recommendation
    STOCK: NIO | 4/21/21 FIRST FOCUS NIO INC. (Ticker: NIO) LBIRLBIR Recommendation Recommendation Stock Price: $36.93 (4/21/21) Company Size: $55.9B Author: Janice Quek Industry: Alternative Energy Car Company Rank: 931 Sector: Consumer Cyclicals Manufacturers Nio is a leading Chinese smart electric vehicle manufacturer. IN THIS FIRST FOCUS WE’LL COVER: u Summary of the Business Nio designs and produces smart electric vehicles and offers a range of complementary services to Grab-and-Goä drive electric vehicle adoption and other revenue streams. THESIS u Recent Developments The pandemic impacted Nio’s sales adversely in An investment in Nio is a play on Q1FY20, but the company recovered well, returning premium electric vehicle demand in to pre-Covid production levels by the next quarter. China. The company is a leading It reported strong FY20 performance. manufacturer of premium smart u Competitive Environment electric vehicles in the country. Nio Nio is one of the leading electric vehicle brands in has a good competitive position and China. It has a premium, high performing vehicle can sustain or grow market share fleet, attractive battery swap design, strong support through innovation and aggressive infrastructure and solid branding, which are market penetration into China’s competitive strengths. smaller cities. u Conclusions/Recommendations We assess that Nio will grow rapidly in the next few years and has significant upside potential. We assign a “GREEN LIGHT” rating to Nio. SEEKING STOCKS THAT CAN DOUBLE IN 2-3 YEARS 1 LEFTBRAINIR.COM . 630-517-9300 0.94 STOCK: NIO | 4/21/21 FIRST FOCUS Data as of 4/21/21 unless specified Revenue Fwd $5,298M Enterprise Value: $55.9B Market Cap: $60.5B (TTM): ($2,355M) Fwd (TTM) 19.14x YTD Return: -24.23% RSI: 38.3 Price/Sales: (8.97x) Gross Margin Revenue Growth 11.7% 110.8% ROIC (TTM): -26.4% (TTM): (FWD, YoY): 200-day Moving 52-Week High: $66.99 52-Week Low $2.91 $35.22 Avg.
    [Show full text]
  • In Focus: Electric Vehicles Market Trends and Value Chain Analysis Q1 2021
    In Focus: Electric Vehicles Market trends and value chain analysis Q1 2021 Applied Value Empire State Building 350 Fifth Ave. Suite 5400 New York, NY 10118 Phone: +1 646 336 4971 www.appliedvaluegroup.com Market trends Value chain analysis Electric Vehicles – Market trends and value chain analysis 3 Mass adoption of electric vehicles is expected by 2030 as technology advances enable commercial viability and OEMs shift their focus to EVs Key stats for the 8.5m+ 2.7% 500+ 13 EV market EVs on the road EV share of total EV models expected Countries with plans today vehicle sales in 2020 globally by 2022 to phase out ICEs Electric vehicles are expected to become widely accepted over the next 5-10 years, driven by a few major factors, including consumer sentiment, commercial viability, OEM vehicle availability, and policy & legislation 2020+ 2025+ 2030+ 2040+ EV shift begins EVs widely accepted EV mass adoption Majority EV 80% EV as a popular choice EV as mainstream product 69% 62% 65% 60% 60% 44% 56% 40% 45% 37% China 21% 20% Europe 15% 23% US 7% Global 0% 2025 2030 2035 2040 Source: Bloomberg NEF, Electric Vehicle Outlook 2020, Applied Value analysis Electric Vehicles – Market trends and value chain analysis 4 Wide-scale changes are needed to support electric vehicle market growth over the next two decades 2025 2030 2040 EV widely accepted EV mass adoption Majority EV › › › › › › › › › › › › › › › Electric Vehicles – Market trends and value chain analysis 5 Four main factors will drive EV market growth over the coming decades 1 Consumer sentiment 2 Commercial viability Consumer support for EV has increased Large improvements in battery technology, drastically in the last two years light-weight materials, and infrastructure › >70% of consumers have changed › 85% decline in electric battery costs behavior to out of concern for climate since 2010 › 31% willing to choose EV when making › EVs offer ~40% lower operating costs next vehicle purchase vs.
    [Show full text]
  • Catl (300750 Ch) Nio (Nio Us)
    Industry Report | July 26, 2021 China EVs (Overweight) Market growth to exceed expectations Yongdai Park [email protected] Analysts who prepared this report are registered as research analysts in Korea but not in any other jurisdiction, including the U.S. PLEASE SEE ANALYST CERTIFICATIONS AND IMPORTANT DISCLOSURES & DISCLAIMERS IN APPENDIX 1 AT THE END OF REPORT. Contents [Summary] 3 I. Auto market reported negative growth for three straight years 4 II. NEVs continue to see explosive demand growth 6 III. NEV sales to increase at 39% CAGR over the next five years 14 IV. Key recommendations 26 Global X China EV and Battery ETF (2845/9845 HK) BYD (002594 CH) CATL (300750 CH) NIO (NIO US) 2| China EVs Mirae Asset Securities Research Summary China’s EV market • We expect China’s electric vehicle (EV) market to expand at a CAGR of 39% over the next five years, growth to exceed with sales volume rising from 1.37mn units in 2020 to 7mn in 2025. expectations • China’s car ownership rate remains relatively low, at 17%. Factoring in the country’s economic/income growth prospects, we forecast sales volume to increase at 2% CAGR over the coming decade. • The market share of EVs is likely to increase steadily in line with the government’s long-term goal of achieving carbon neutrality by 2060 and the milestones laid out in the latest “Technology Roadmap for Energy Saving and New Energy Vehicles (NEVs)”. EV penetration stands at just 10% in China despite surging sales over the past year. • While competition will likely intensify in the EV market, we still see some investment opportunities.
    [Show full text]
  • Chinese Firms Prepare to Charge Into Europe's Electric Car Market
    News Opinion Sport Culture Lifestyle The Observer Chinese firms prepare to charge into Europe’s electric car market Jasper Jolly @jjpjolly Sat 17 Apr 2021 16.00 BST Tesla boss Elon Musk is not known for admiring his competition, but when Chinese manufacturer Nio made its 100,000th electric car last week, he offered his congratulations. It was a mark of respect from a chief executive who had been through “manufacturing hell” with his own company. Yet it is also a sign of the growing influence of China’s electric carmakers. They are hoping to stake out a spot among the heavyweights of the new industry and bring a significant new challenge to Tesla – and to the rest of the automotive industry as it scrambles to catch up. Tesla mania and cheap money have pushed the market valuations of a clutch of electric carmakers to astonishing levels. Tesla’s value topped $830bn (£600bn) in January (it is now down at about $700bn – still almost three times the size of its nearest rival, Japanese carmaker Toyota). Chinese rivals Nio, Xpeng and Li Auto have all rapidly risen in value to rival much bigger and longer-established manufacturers – despite having never made an annual profit – on the back of US stock market listings that brought access to retail investors, although their values have fallen steeply from highs earlier this year. Their fundraising successes have allowed them to pour money into competing with Tesla in China. Now they are eyeing the European electric car market – the biggest in the world. An XPeng P7 outside the New York Stock Exchange before the company’s IPO last year.
    [Show full text]
  • Driving a Green Future: a Retrospective Review of China's Electric Vehicle
    JANUARY 2021 DRIVING A GREEN FUTURE A RETROSPECTIVE REVIEW OF CHINA’S ELECTRIC VEHICLE DEVELOPMENT AND OUTLOOK FOR THE FUTURE Lingzhi Jin, Hui He, Hongyang Cui, Nic Lutsey, Chuqi Wu, Yidan Chu International Council on Clean Transportation Jin Zhu, Ying Xiong, Xi Liu China EV100 EXPERTS INTERVIEWED Yongwei Zhang, vice chairman and secretary-general, China EV100 Fan Dai, director, California-China Climate Institute Drew Kodjak, executive director, International Council on Clean Transportation Patricia Monahan, commissioner, California Energy Commission Margo Oge, former director, Office of Transportation and Air Quality, U.S. Environmental Protection Agency ACKNOWLEDGMENTS This study was supported by the Aspen Global Change Institute and Rockefeller Brothers Fund. The work was guided by Dr. Yongwei Zhang, vice chairman and secretary-general of China EV100. We are especially grateful for the expert advisory group contributions of Fan Dai, Drew Kodjak, Patricia Monahan, and Margo Oge, and for the constructive reviews from Dr. Yongwei Zhang, Dr. Bin Liu, Dr. Jianhua Chen, and Ms. Rui Zhao. However, their support and reviews do not imply any endorsement, and any errors are the authors’ own. ABOUT THE ICCT The International Council on Clean Transportation (ICCT) is an independent nonprofit organization founded to provide first-rate, unbiased technical research and scientific analysis to environmental regulators. Its mission is to improve the environmental performance and energy efficiency of road, marine, and air transportation to benefit public health and mitigate climate change. ABOUT CHINA EV100 China EV100 is a nonprofit organization and third-party think tank aiming to encourage the development of the electric vehicle and intelligent and connected vehicle industries.
    [Show full text]