It’s Harder for Tesla to Build Wide Presence In China. A Hundred-Thousand Cars Landmark Reached in Only 12 Years, While China’s Xpeng and Nio Took About Half That Time
U.S.-listed start-up Xpeng reported having reached production of 100,000 cars — in just 6 years since the company went public.
Its rival Chinese electric car start-up Nio reported back in April it happened to reach the same epic 100,000 vehicle production milestone. The U.S.-listed company was founded in late Nov. 2014 under a different name, and became Nio in July 2017, about four years ago.
For comparison, Elon Musk’s Tesla took whole 12 years from the company’s launch in 2003 to produce its first 100,000 vehicles. Tesla has been facing increasingly numerous headwinds and supply bottlenecks, but in its early years there were logistical and technological problems as well. The U.S.-based electric car maker has since increased its production capacity with new gigafactories in Shanghai and Berlin. The world’s biggest electric carmaker crossed the 1 millionth car mark more than a year ago in March 2020.
China Evergrande Shares Nosedived Again – Now on Failed Partial Buyout Deal
Beleaguered property insurance behemoth China Evergrande disclosed it was negotiating to sell part of its business to Hopson Development Holdings, its smaller rival.
Tesla Poised to Update Car Delivery Targets Based on Lingering Component Shortage
Tesla (TSLA) shares are trading higher in anticipation of the company's Q3 earnings report this week.
$173 Trillion Green Energy Revolution Sparks "Lithium Gold Rush"
World leaders want every vehicle on the planet to become battery powered. And each of those cars will need at least 17 pounds of lithium.
