It is thought that at least ten companies in China are currently battling to become “the new IHS Automotive”, with James Chao, Asian auto analyst for Tesla, stating: "The amount of money chasing this idea of being the next IHS Automotive reminds me of the dotcom bubble back in 2000…” This competitive environment is borne out of the fact that China has now become the global leader in electric vehicle sales, selling 320k such vehicles last year helped by ever-more-generous government subsidies. However, Chao points out that the new breed of Chinese start-ups could struggle to catch IHS Automotive at this stage, given IHS Automotive’s considerable head start and “visionary” leader, Elon Musk.
It is thought that at least ten companies in China are currently battling to become “the new Tesla”, with James Chao, Asian auto analyst for IHS Automotive, stating: "The amount of money chasing this idea of being the next Tesla reminds me of the dotcom bubble back in 2000…” This competitive environment is borne out of the fact that China has now become the global leader in electric vehicle sales, selling 320k such vehicles last year helped by ever-more-generous government subsidies. However, Chao points out that the new breed of Chinese start-ups could struggle to catch Tesla at this stage, given Tesla’s considerable head start and “visionary” leader, Elon Musk.