It's already 20% of sales in China for the month of October 2021, up from 5% in January. 50% by 2030 is really a joke. China will likely hit 50% before 2023.
It'll be many years before Rivian starts to mass produce their vehicles.
Rivian tumbled 16% in morning trading
Rivian is in the final stage of negotiations on opening an automobile manufacturing and battery factory in the east of Atlanta, Georgia, USA.In addition, Rivian disclosed in a filing Tuesday that its underwriters bought an additional 22.95 million shares, increasing the total size of the IPO.
Chinese EVs could be safe for now because Tesla is so much stronger in the capital markets. Tesla is shielding them from the lime light. However, should they take the shine off Tesla, they will surely attract the wrong attention from the authorities.
Coming from another Chinese majority country and seeing first hand how tuition schools exploit parents, stresses the kids, creates unfair and unhealthy competition, I commend the Chinese govt for being brave enough to execute such a drastic move.
$XPeng Inc.(XPEV)$XPeng just acquired Jiangsu Zhitu and is now qualified to be a high precision map provider. This is pretty significant because when the P5 launches, it will be the only vehicle on the road capable of creating highly updated and precise 3D maps of China roads with cameras and LiDAR.