Weblog with daily updates of the news on a frugal, fair and beautiful China, from the perspective of internet entrepreneur, new media advisor and president of the China Speakers Bureau Fons Tuinstra
Business analyst Shanghai Rein hits out at the NEV taxes the US has implemented and the EU is planning to start too. China has dealt with domestic pollution as asked by the rest of the world and developed its electric car industry, and now gets hit, he argues. While tensions between China and the EU are growing, they will not be as back at the US-China trade war, he expects, as China still needs investments from Europe.
China’s electric car makers saw their value rise over the past post-corona months, as they believe they can produce an alternative for US-car maker Tesla, says Rupert Hoogewerf, chairman of the Hurun China rich list to the South China Morning Post.
The South China Morning Post:
The California-based marque leads China’s premium electric vehicle segment, buoyed by locally built Model 3 sedans. Tesla delivered 79,908 made-in-Shanghai Model 3s in the first nine months of this year, beating its Chinese rivals by a large number amid a slump in the overall market due to the Covid-19 pandemic.
In September, Nio delivered 3,226 of its ES6 sport-utility vehicles, a year-on-year increase of 87 per cent. But it was still behind Tesla by quite a distance, as the US company sold 11,329 Model 3s the same month.
Rupert Hoogewerf, the chairman and chief researcher at Hurun Report, which compiles the Hurun China Rich List, said the rallies in Chinese electric carmakers had resulted from a belief that they would evolve into China’s answer to Tesla in the future.
“The sector is interesting to watch because they are potential game changers in the automotive industry,” he said. “We don’t know the answer yet to whether they can become powerful players in the fast-changing automotive industry.”
