Chinese EV makers’ Tesla-like stock rally leaves market watchers puzzled

The Business Times | Sep 11, 2020 at 2:00 AM
  • A METEORIC rise by Chinese electric-vehicle (EV) stocks that disrupted market-value rankings and left some industry observers scratching their heads is showing signs of fizzling.
  • Reuters reported that NEV sales in China surged 26 per cent on year to 109,000 units in August for their second consecutive month of gain, a promising sign for carmakers that have invested heavily in the world’s biggest market for EVs.
  • China’s overall vehicle sales in August rose 11.6 per cent to 2.19 million vehicles from the same month a year earlier, the fifth consecutive month of gain as China comes off lows hit during the Covid-19 lockdown in the first few months of the year.