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Tesla's Success Sparks China's Startups

Although the market was disturbed in some ways due to the coronavirus pandemic, Tesla managed to see a boom in sales in the initial 8 months of 2020, almost tripled to 73,658 cars from the year before. Tesla’s success has inspired Electric Vehicles (EV) startups. China’s electric vehicles startups, NIO, XPeng Inc., Li Auto and WM Motor have this year boosted. According to Fu Qiang, the Airways co-founder, Airways intends to go public too. He continued the relative achievement of U.S. IPO (short for initial public offerings) by Li Auto and XPeng has triggered our aspirations. He also added that the Airways will be probably listed in China, approving that IPO is on the agenda. Gained not over 10 billion yuan since its establishment in 2017, the Airways company has to achieve more finance via private sectors as well as other investors. For many years, China has been producing the most rapid growing electric vehicles in the world thanks to abundant state purchase subsidies. However, the sales declined last year as a result of reduction in funding and de-escalating other policies to protect electric cars. Samira H.
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By Samira Hassanzadeh on October 19, 2021


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