The feel-good factor from China’s reopening theme continues to fuel a rally as the Hang Seng index reaches the highest level in six months. Even so, there is still ‘significant upside’ to equities, Goldman Sachs says.
Author: South China Morning Post
China’s once booming electric vehicle (EV) market is set to see slower growth in 2023 as Beijing phases out cash subsidies and consumers avoid big-ticket items over concerns about the economy.
With the EC7, a sport utility vehicle (SUV), and the ES8, a full-size SUV, Nio aims to take on premium petrol cars made by German marques such as BMW and Mercedes-Benz.
China’s EV battery industry must look abroad for customers as it will soon have far more capacity than domestic car makers need, according to a report in a newspaper run by the State Council.