Normally it takes decades of intense investment, hard graft and astute management to become a market leader. China does not have the patience for that
. Tesla’s boss, Elon Musk, says the company’s Shanghai gigafactory will be making 1,000 cars a week by the end of 2019; they will mostly be its Model 3, which is both its cheapest car and, at 355,800 yuan , still very expensive for the Chinese market. The factory, built in just eight months, is designed to make 500,000 cars a year.
Meanwhile, Volkswagen is refitting one existing Chinese factory and building a brand new factory to produce 600,000s a year. It expects to produce 1m electric cars a year in the country by 2022 and to have manufactured 11.6m electric cars in China by 2028. If those ambitions are fulfilled the firm’sAll this ambition suggests that there may be a bust on the way, and that theis hoping to turn those particular lemons, grown through overzealous and incontinent state aid, into lemonade.
s in China is charging infrastructure. This makes buyers more confident. The state also facilitates the roll-out of advanced technical features for the benefit of the public at large. Mr Shen says thatis planning a pilot with State Grid, China’s largest utility, in 2020 whereby the batteries in its customers’ cars will be used as grid storage to help balance the flow of electricity in Beijing and Shanghai.s long before any other country, and that will benefit the industry as a whole.
Mr Shen imagines a scenario in which his firm’s skateboards are shipped around the world to be integrated with bodies and interiors created by other manufacturers that have failed to create their own coretechnology. It would be a complete reversal of the situation today, where Chinese car companies need Western firms to supply the most valuable components. China’s huge market forand self-reinventing incumbents like vw will rely on.
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