China will lead the electric vehicle industry
In China, the world's fastest-growing automotive and consumer market, demand for electric vehicles continues to grow. At present, China is rectifying pollution, transforming the factory-led economy into high technology, and supporting the development of electric vehicles instead of fuel vehicles. China has been introducing policies to promote the rise of electric vehicles, providing buyers with convenience on cards and tax incentives. Although other countries are also developing electric vehicles, Bloomberg's new energy finance department expects China to remain the leader in the electric vehicle market at least until 2040.
Tesla was criticized by investors for his constant burning of money and his delay in making a profit. Tesla said on Wednesday that it plans to use the Chinese local bond market to finance the construction of a new factory in Shanghai. This will be Tesla's first super factory built outside the US.
Bloomberg previously reported that Tesla's new plant has a full-capacity cost of $5 billion. Mask said on a conference call on Wednesday that the new plant will initially produce 250,000 cars and battery packs each year, costing nearly $2 billion, and will gradually double capacity in the future. The first cars are expected to go offline within three years.
"China's determination to promote the development of the electric vehicle industry and the absolute size of the market have contributed to the global popularity of electric vehicles," said South-South (Nannan Kou), senior manager of Bloomberg New Energy Finance in Beijing. "in the context of China's push to develop electric vehicles, global automakers have turned their electric vehicles intoDevelopmentThe timetable is 6 years to 7 years ahead of schedule. ”
Lagging behind in the Chinese market
Local production is not only important for Tesla's presence in China, but it also reduces Tesla's costs, especially if China imposes higher tariffs on imported cars. After raising tariffs on cars originating in the United States in China, the price of Tesla Model S and Model X in China rose by up to $30,000. The size of China's middle class is constantly expanding, and Tesla may not be able to win them because of the high price of cars.
However, Tesla is encouraged by the fact that the demand for electric vehicles in the big cities of China is the strongest, and these cities have imposed restrictions on fuel vehicles. For example, big cities such as Beijing, Shanghai, and Guangzhou are home to China's wealthiest consumers, and consumers here are now more likely to be able to afford Tesla cars, especially in Tesla's history. The cheapest model in the case of Model 3.