China is confident that only they can challenge Tesla

China is confident that only they can challenge Tesla
The China passenger car Association (CPCA) has published a report on the current development of the Chinese automobile market. CPCA considers the highest rating of Chinese electric car manufacturers by American investors to be the main indicator of the state of the local automobile industry. Moreover, it seems that there are no other manufacturers in the world that could catch up with Tesla in their development, the Association notes.

According to sources, the CPCA report does not directly mention NIO, Li Auto or Xpeng, but these are the only three new companies whose shares are listed on the US stock exchange. The" overly enthusiastic " reaction from American investors, according to the Association, is a recognition that in the future, Chinese electric car manufacturers will be the only ones who can develop their products to the level of Tesla electric cars.

Due to the lack of an effective price guide for new premium electric vehicles, as well as the high prices and mediocre performance of new "new energy" vehicles, it is difficult for some international OEMs to compete with new Chinese electric vehicle manufacturers in the short term.

In particular, the report says that new Chinese manufacturers can achieve recognition of their products in the market even at higher prices, which they do. They sell electric cars at higher prices and in increasing numbers, which demonstrates excellent profitability and is enthusiastically received by investors.
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