Auto: China EV Market Update

Since 2020, NIO has received a total of CNY41.5B (USD4.68B) in equity / bond financing; Li Xiang has received a total of CNY20.7B (USD2B) in equity financing; XPeng has received approximately CNY30.4B (USD4.7B) equity financing. Tesla has received USD12.34B in equity financing. CITIC Securities believes that since 2020, the 4 companies have received a total of about USD23.72B in financing, which will greatly accelerate the rapid development of the autonomous driving/smart electric industry chain. (CITIC Securities report)

Tesla has built factories in the United States, China, Germany. The company has a total of 5 plants around the world, namely Fremont in California, Tilburg in the Netherlands, Shanghai in China, Berlin in Germany, and Austin in Texas. CITIC Securities predicts that the company’s output in 2025 is expected to reach 2.25M vehicles. (CITIC Securities report)

According to the plans for future models of Chinese and global car companies, dozens of smart car models will be launched in the market in 2021–2022. In the future, with the further increase in the penetration rate of the smart car industry chain, vehicle competition will further accelerate, which will also stimulate demand and investment opportunities in related links of the industry chain. (CITIC Securities report)