China’s electric vehicle representatives appear to be ready to ride through the Year of Ox as the capital-intensive sector invests billions of dollars into new electric vehicle models. The single and biggest auto investment has taken effect while new-energy vehicles NEVO in China start-up speed up production rate. Old automotive manufacturers like Geely and Great Wall Motors have switched to manufacturing electric cars from engines fueled by petroleum.
Researchers report that SPACs is steadily gaining momentum as Lucid Motors prepare to go public via SPAC. Some incumbent players are trying to make monetization by protecting all assets belonging to electric vehicles.
Stakeholders have spotted the potential of new electric vehicle companies to have possible growth. However, the worry comes in when incumbents appear to grab meaningful incomes. The founders’ fate and supporting the management of automakers lie on NEW stocks’ love since they cannot vend their shares when there has been a lockdown on the Star Market for many years. Elon Musk, the chief executive officer of Tesla, rose to be the wealthiest man globally in February following the abrupt increase in Tesla shares by 500%. Jeff Bezos was the second wealthiest man after Elon Musk.
Below are some of the largest growing sales representatives to watch out for in the industry;
WM Motor Technology
The company began the Star Market of Shanghai process in 2020, and it made a recent completion o0f the education stage of its IPO preparation. The company values over $1 billion, and it is holding meetings with regulators from China concerning the right timing of IPO. Rumors are that the IPO might be making its first appearance this year. The company designs, make, and markets cheap batteries used by EVs under the Weltmeister brand.
Geely Automobile Holdings
This largest private company owned by China plans to contribute over 20 billion Yuan to the Star Market. The company is situated in Zhejiang and owns Volvo vehicles. It is also the biggest shareholder of Daimler, and it has become part of olden automakers. Geely aims at manufacturing ten electric vehicles in five-years-time. The company formed a cooperation with Baidu, Foxconn, and Tencent to secure its position in becoming the world’s largest players in transport.
Zhu Jiangming and Fu Liquan launched the company in 2015, and it is located in Hangzhou. The company owns three electric models, which are the C11, TO3, and S01. Leapmotor did not give feedback concerning the request for traditional information. –https://industribune.net/