‘China's Elon Musk' uses just two numbers to demonstrate why his country's auto industry is now outcompeting the U.S. and Europe [Yahoo! Finance]
Tesla, Inc. (TSLA)
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Source: Yahoo! Finance
If you want to know why the most technologically advanced cars are currently built in China rather than the United States or Europe, two numbers describe the breakneck pace of innovation there. Fifty represents the penetration rate of so-called new energy vehicles (NEVs) as a share of the overall Chinese market. In other words, an EV or plug-in hybrid constitutes every other new car sold last year. The second number, 55.7, represents the percentage of NEVs sold last year that came equipped with “hands-off” automated driving assist systems, similar to features like Tesla's Full Self-Driving or Ford's BlueCruise. To put that in perspective, when He Xiaopeng helped found New York–listed Chinese EV maker XPeng back in 2014, these figures were both below 1%. “One can tell that great improvements in development have been witnessed in China for the past decade,” said He, speaking on Tuesday at his global brand night held this year in Hong Kong, where his premium X9 family van was th
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