Chinese auto startup Nio just had its $1 billion US initial public offering. While the share price fluctuates, investors ask the same question: will the Shanghai-based upstart supplant Tesla as the world’s top luxury electric car brand? Like Tesla, its cars offer sleek, space-age designs. It also has a flair for marketing stunts: in Nio’s case, setting the fastest lap ever recorded by an electric car at Germany’s Nürburgring. But Nio is offering cutting-edge technology at jaw-dropping prices. Its ES8, priced at RMB 448,000 ($70,000), costs only around half as much as a Tesla Model X does in China.
As awareness increases, Chinese consumers are taking to electric vehicles. But just how evolved is the Chinese electric car industry?
Having finally brought its innovative technology here, Tesla China now faces the challenge of making it work in the worldʼs largest auto market.
The government money is there, the producers are capable, so what is stopping electric cars in China from taking off?
The Fall 2014 issue of CKGSB Knowledge is out! It has articles and interviews like: COVER STORY: Around the World: In a circuitous way, billions of dollars rely on an international game of legal cat and mouse. China’s top companies use variable interest entities, but now the Alibaba IPO is shining a light on this legal grey area. CHINA BY NUMBERS: From […]
Chinese automobile manufacturer BYD Auto has great expectations from the US market. Can it deliver? An interview with Stella Li, Senior Vice-President of BYD and CEO of BYD Motors, the company’s US arm. When Tesla CEO Elon Musk heard a Bloomberg reporter mentioning Chinese automaker BYD Auto as a Tesla competitor, he just laughed, three times. “Have you […]
Will the ‘fair price’ strategy help electric car manufacturer Tesla in China? Elon Musk, the maverick founder and CEO of the Silicon Valley-headquartered electric car maker Tesla Motors, has had his eyes on China for a while now. Last year, he called the China market a “wild card” in the company’s future. In January this […]