By year's end, China will surpass Japan as the world's top auto exporter. In recent years the nation's exports jumped South Korea and Germany to claim the 2nd place.
Key factors? China's dominance in lithium-ion battery production and cost-effective EV production.
Moreover, global giants like Tesla and BMW have set up shop in China, yet local brands like Chery and SAIC still shine bright. EV sales are skyrocketing, with China cornering about 60% of the market.
🚗🎉 Vietnam's VinFast is finally hitting the Nasdaq on Tuesday, flaunting a cool $23B valuation after its SPAC merger.
This move gives the company access to the global capital markets and puts them in direct competition with big names like Tesla. They seem prepared for the fight with a North Carolina factory opening soon. 🔌🚀
New York is set to welcome four-wheeled electric cargo bikes – a game-changer for urban delivery. Common in Asia & Europe, these "bike vans" are eco-friendly alternatives to trucks.
Mayor Eric Adams champions this move for safety and sustainability, aiming to cut CO2 emissions and congested streets. The city is even considering widening bike lanes for them. 🚲📦🌆
We've seen some last-mile delivery services turning to EVs and electric bike development. We expected each to compete for existing ICE market share, but it seems they will also compete against one another.
🚗💨 Tesla's price cuts are working, but at what cost? Data shows the average transaction cost this year is a 20% YOY drop at $54,660 in July — the lowest since April 2020.
Thanks to such generous cuts, the EV market saw prices dip nearly 18%. Interestingly, incentives for EVs also rose, nearly doubling standard vehicle incentives.🌍🔋💸