Asia > Eastern Asia > China > China billionaires take Tesla for example

China: China billionaires take Tesla for example

2015/04/30

US-based electric automaker Tesla Motors has swiftly graduated from being a new energy startup to a fully fledged automaker that has its shares traded publicly and expands on a world level.

While it still has just one model in its dealerships, the carmaker has a successful business model so far, which allowed it to be intensely courted by investors and as well plan huge investments – such as the world’s major battery production facility. Its business model is as well one to be noted in a specific automotive segment – electric cars. And their influence has spread all the way to China – which has numerous billionaires willing to invest in the automotive field, since the country is the planet’s biggest auto market.

For example, Hong Kong businessman Stephen Wong has as well graduated from being imprisoned for theft and fraud to a very honorable investor into China’s emerging electric commercial vehicle sector. He made his fortune founding Chinese TV maker Skyworth Digital and, according to the Bloomberg Billionaires Index, can make use of a fortune worth $1.2 billion – mostly thanks to his 36 % ownership of Skyworth.

Additional importantly, the rest is currently derived from an electric producer that is being carved out of the Tesla Motors business model. The Chinese magnate is en route to develop a new venture that seeks to tap China’s rising need of new energy vehicles (their term for plug-in hybrids, fuel cell and battery electrics) as the country fights pollution. “For entrepreneurs, their experience, determination and ideas are additional significant than products.” comments Zhong Shi, a Beijing-based independent auto analyst that as well sits on the committee of national-backed China Automobile Dealers Association. He presently closely directs (with 80 % ownership) electric producer Nanjing Golden Dragon Bus, aiming to turn the startup venture into the country’s major builder of commercial vehicles powered by electricity.

Related Articles
  • Guangzhou’s 16,000 Africans hit by effects of China slowdown on home continent

    2016/07/04 With few customers at his wholesale jeans store in Guangzhou these days, Nigerian trader Brien Chuks busies himself looking next his three-month old baby. “Last year I sold 12 shipping containers of jeans back to west Africa but this year I haven’t managed to fill a single one,” says Mr Chuks, who operates from the Canaan market in China’s third-biggest city, like a lot of other Africa-focused exporters. “The Nigerian economy depends on oil so with the crude price having fallen so low, business is very hard.” In a sign of the circularity in the world economy, the Africa-focused traders who have long thrived in Guangzhou are suffering because of a commodities-driven slump in their home continent that from presently on originated in China. At the same time as rapid Chinese increase pumped up prices of oil and metals, resource-rich parts of Africa thrived, buying additional consumer goods from Guangzhou. Presently the opposite has happened. Sitting in the midst of China’s manufacturing heartland, Guangzhou has long been a centre for trade with Africa.
  • United States sees China investment talks ‘productive’ after new offers

    2016/06/20 Bilateral investment talks between the United States and China “continue to be productive,” the US Trade Representative’s office said on Friday next the two sides exchanged new offers this week. A USTR spokeswoman said US and Chinese negotiators exchanged revised “negative lists” of sectors that would remain off-limits from foreign investment as they try to reach a transaction for a bilateral investment treaty.
  • Djibouti partners with China to develop local infrastructure and global trade routes

    2016/06/18 Djibouti has recently inked an agreement with China to streamline the East African country’s Customs systems, in a bid to consolidate its position as a logistics and trade centre for the region. The agreement comes as Djibouti channels some $14bn worth of investment – inclunding over $1bn worth of concessional financing from Chinese banks ­– for a spate of major infrastructure projects, ranging from free trade zones to a new railway and port facilities. The new Silk Road
  • Asia Property Bond Market Enjoys Strong Momentum from Stock Market Volatility

    2016/06/12 Chinese Developers Delay Bond Maturity, Deficit to Peak in 2020
  • Forty-six Chinese-owned companies registered in Guinea-Bissau

    2016/06/11 The Company Formalisation Centre (CFE) of Guinea-Bissau from May 2011 to May 2016, registered 46 companies whose owners are from China or Guineans associated with citizens from that country. Statistical data from the CFE to which Macauhub had access Thursday showed that the 46 companies are linked to agriculture, fisheries, catering, clothing sales, cosmetics and computer products, part others.