Price wars and Tesla woes roil Asia’s electric vehicle market


Hello, this is Kenji from Hong Kong. Like many other tech products, electric cars are the victim of price competition — especially in China with a twist (big story). FT’s Yuan Yang sticks to China and explains that social media discourse is even more intertwined. Another story I recommend sees activists fighting civil rights infringement by wearing “anti-face” paint to foil facial recognition software (Mercedes Top 10). Finally, thank you very much to everyone who participated. #techAsia webinar Yesterday and to our excellent panelists.

Big story

A major upheaval is shaking the Asian electric vehicle market. A Global price war Japanese, Chinese and European manufacturers are confronting each other and intensifying as industry leaders Tesla stumbles In the very important Chinese market.

Mitsubishi Motors will offer electric vehicles in Japan and Southeast Asia for about $ 18,100 and plans to produce some vehicles in Thailand. Renault, a Mitsubishi partner, aims to sell an electric sports utility vehicle in Europe for about $ 20,300, and Volkswagen plans to debut the model in 2025 for about $ 23,800.

Main development: These prices are higher than China, which is the largest market for electric vehicles.Chinese car maker $ 4,500 electric car Last year by sticking to the absolute basics. BYD, backed by Warren Buffett, sells e1 minicars for about $ 8,950.

However, China is a turbulent market for foreign automakers. Tesla experience show. Beijing ordered software repairs for about 300,000 Tesla vehicles after reports of accidentally operating the autopilot, causing acceleration.

Bad news for Tesla can be a fuss for local challengers. One of them, Xpeng, $ 2 Billion IPO In Hong Kong.

Up shot: The bruising dynamics of the global electric vehicle market are primarily driven by battery prices. Battery prices fell 80% between 2012 and 2020 due to mass production in China and Europe. This trend is expected to continue. In short, global price competition will accelerate.

Top 10 Mercedes

  1. Exclusive: Softbank’s humanoid robot, Pepper, who was said to “understand” emotions end of production To Japan.. (Nikkei Asia)

  2. Research by IISS, England Think tank, found it China At least 10 years late We From that point of view Strengths as cyber power.. Japan was Ranking Lower China.. (FT, Nikkei Asia)

  3. Technology trading Southeast Asia Is proceeding smoothly Set a record this year — Without counting the GoTo merger and Grab’s Spac. (FT)

  4. Samsung’s carbon emissions Still rising regardless of South Korea The conglomerate’s full sustainability claim. (FT)

  5. Panasonic’s decision Japan Selling all of Tesla’s shares is Dramatic changes in relationships Between longtime partners. (FT)

  6. Toyota Motor President Akio Toyoda has invested $ 45.3 million in his own funds Smart cities where self-driving cars are the mainstream.. (Nikkei Asia)

  7. Japan Was set Police force working on cybercrimeReflects alarms for incidents such as ransomware attacks We This year’s pipeline. (Nikkei Asia)

  8. The· EU Form a joint cyber unit Strengthen defense against attacks From Russia, China And elsewhere. (Nikkei Asia)

  9. FT Yuanyang delves into a magnificent toxic world Stack of social media To China.. (FT)

  10. “We Terminator The world of science fiction. ” We Complete the activist Anti-surveillance technology, With a great work of FT Magazine by Hannah Murphy. (FT)

Activists are increasingly fighting back tech surveillance by taking fringe measures © Dazzle Club

Our view

A series of levitation flops by Chinese companies are in the limelight Didi This week’s US stock debut. But the blockbuster IPO of the ride hailing app in New York has avoided a tremendous fate.Didi The price of the stock It is the upper limit of the market price, and its market value is slightly higher than the $ 65 billion valuation of 2018 funding.

It was in stark contrast to the Chinese grocery app Ding Dong,this Significantly reduce IPO targets About 70% this week before listing on the New York Stock Exchange. Miss fresh, Ding Dong’s Tencent-backed rivals have fallen by almost 33% since listing on the Nasdaq last week. RLX, Chinese e-cigarette companies trade at prices about 27% below the issue price, but other companies such as dating apps also Soul Gate, Discarded the planned US list.

Regulatory risk is one of the obvious reasons. Not only are Chinese big tech companies hit by domestic regulators, but uncertainty about US regulations and scrutiny of Chinese companies that are listed or are seeking listings are also affecting them.

In addition, experts argue why it bothers small Chinese companies when there are so many good US technology options to invest in. Of course, they are celebrities like Diddy. It will watch carefully the first day of trading. stay tuned.

— Mercedes

Smart data

A bar chart of funds raised by Chinese companies from IPOs ($ 1 billion) shows that China's tech list will decline as regulators crack down.

The value of listing on the stock market by a Chinese technology company Dropped over 60 percent In the second quarter as Beijing regulators expanded crackdowns on the sector. Since early April, Chinese tech group initial public offerings on exchanges around the world have fallen almost two-thirds since the first quarter, raising just $ 6 billion, according to Dealogic data.

This decline was caused by the Chinese tech group facing pressure from Beijing. Beijing has increased regulatory oversight of major companies in the sector in recent months.

Regulators ordered a restructuring of the business in November, blocking a $ 37 billion IPO of Ant Group, a fintech group dominated by millionaire Jack Ma. Authorities also punished technology groups that they considered to be monopoly practices, including raising Ant’s sister e-commerce group Alibaba to a record $ 2.8 billion.

Spotlight

Based in Hong Kong The wealthiest person in the world under the age of 30 They live much like many millennials.

Sambankman Fried, 29, vows to eat vegan, shares an apartment with his roommates, works in T-shirts and shorts, and has bean bags in every room of his office in Hong Kong’s central business district. Make sure to put down the chair and sleep.

According to Forbes, Americans are worth $ 8.7 billion. However, depending on the outcome of the funding round, that number can be “much larger”, FTX, A Hong Kong-based crypto derivatives exchange he founded in 2019.

Bankman-Fried rarely drinks or takes a vacation because “similar to idle software, the brain becomes less efficient after a long break.”

Trading art

Some marriages take place in heaven. Others have more ground sources.However Megamerger Two of China’s largest state-owned tech companies appear to be motivated by the US-China technology war.

Approval to create what a Chinese media report described as an “IT aircraft carrier” China Electronics Technology Group And Putian Information Industry, ChinaWell known as Potebio, Merge.

Both are one of the so-called central enterprises in China, a set of less than 100 core state-owned enterprises that are directly supervised by the State Council’s Asset Supervision and Administration Committee.

The merger is part of China’s efforts to establish a supply chain for key industries that are independent of other countries, especially the United States. By integrating CETG and Potebio into a larger single entity, Beijing aims to focus more capital on investing in research and development.

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