NEVS’ chairman Jiang Dalong spoke to Reuters about the deal with Panda and the future of electric vehicles. While I want to take out a few interesting excerpts you can read the full article here.
“China is going to be the world’s biggest market for electric cars,” Jiang said in an interview in his office in Beijing. “China has no choice. They have to wean themselves from conventional gasoline combustion cars,” he added, describing the recent sharp uptick in air pollution levels in China’s capital as “terrible” and “crazy”.
“Big existing automakers are too big. They cannot stop producing conventional gasoline combustion cars. But we can … switch to new energy cars.”
In general I have to agree with him here. For China it’s of course the issue of air pollution but also, according to some calculations that I read a while ago, if China would reach a car per people ratio that is close to for example Europe, they would need the entire world production of gasoline and diesel to run those cars. So currently the way the Chinese government wants to take is electromobility and it can’t be a fault to be part of it.
The biggest question mark is Chinese economy which seems to be in some difficult times the moment. But given the long term of this investment I would not judge it just from today. China may not grow at a rate like they did in the last decade but they will get back to a path that is solid.
Then it’s about the Panda deal and its financing: