CHINA Electric Vehicle Disaster as Sales Growth & Prices Fall, USA 100% Tariff & Competition Soars

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In this video I look at what is happening with Electric vehicles. Both the price and the sales growth for electric cars fell in Q1 2024, Tesla, the leading brand globally, announced it was firing 10% of its workforce including the staff at its charging business and the share prices of EV brands crashed. However, despite all of this bad news, ZEEKR, a Chinese EV brand, listed its shares on the New York Stock Exchange at a valuation of over $5 Billion and raised $441 Million from USA investors. China has been flooding Global markets with low cost electric vehicles and as a direct result of this the USA recently introduced a 100% tariff on Chinese EV's. In this episode I look at the reasons why electric vehicle sales are slowing, why there is a reluctance to move to electric for the majority of car buyers and what the implications of the increase in competition means for EV brands such as ZEEKR.

For specific details please check out the CHAPTER list below.

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Chapters:
0:00 Intro
4:10 ZEEKR IPO
6:58 EV SHARE PRICES
9:39 EV SALES
11:27 EV BRANDS
12:45 EV CONCERNS
13:40 RANGE ANXIETY
16:03 CHARGING INFRASTRUCTURE
18:13 EV COSTS
21:38 REPAIRS
22:46 SUMMARY & CONCLUSION

#china
#tesla
#electriccar
#electriccarsarethefuture
#chinaevcar
#zeekr
#shares
#electriccar
#rangeanxiety
#globalrecession
#chineseyuan
#deflation
#inflation
#technology
#wheat
#interestrates
#india
#Belt&Road
#globalrecession
#globalfinancialcrisis
#russia
#Evergrande
#China
#Recession
#Bonds

[MasticinaAkicta]

People are still investing in chinese IPO's...
Wow, that is just stupidity.

[waynethurecht]

The question I believe is how the SEC is allowing these IPOs to be listed given the history without greater scrutiny.

[Ultra-Violet]

You'd think the American investors would of learnt their lesson now, when it comes to investing in China 🤷🏻‍♀️

[ScrapKing]

Re: depreciation. Who flips a car after 2 years? Don’t most people hold onto a car for 3+ years? Most people I know hold onto cars for 5-10 years at a minimum. Several people I know buy a car and drive it until the wheels practically fall off.

[nathanhayhurst]

Im suprised the us still lets chinese companies are still allowed to list in the us.

[sensi]

China wants a productive and good diplomatic relationship with the West and Europe but is actively supporting Russia and trying to undermine Europe and America 😂😂

[joeminella]

I don'i know anybody who has enough money to throw some away on an unknown Chinese company. Who are these people?

[brycem]

There is around 100 Chinese electric car manufacturers. Some only make around 500 cars per year. So there is going, to be alot of them failing or merging.

[TheLDunn]

it's a legalised scam.
Chinese business does IPO in US, goes belly up shortly after, makes off with all the money raised in USA.

[BradPrichard]

I live in China and I've never heard of Zeekr nor seen its logo.

[thomashunter]

You can become a millionaire by investing in Chinese companies. You have to start with billions.

[ScrapKing]

I know a bunch of people with electric cars. They all went electric because the operating costs are far cheaper, and most of them got second-hand ones so none of them seem very smug about their purchase.

[FastEddie]

It is sad to see that the legendary British brand MG is now Chinese. I have
fond memories of my 1970’s MGB. A true British sports car.

[cogolloagain]

Joe, I love your videos, but you obviously need to research this topic a lot more.

Most of the negative points you mentioned are "people are uncertain whether EVs will work", but there is already a lot of information out there shoeing that they do work.

I have been driving an EV since early 2019, I have done multiple road trips of 600km+ (longest one about 5000km) and have had no issue whatsoever (I have a 2nd hand Tesla).

The only thing you say is completely true is that having the possibility to charge at home, work or the mall is fundamental. People without at least one of those options will have problems; otherwise, EVs are cheaper, cleaner and nicer to drive.

Love your channel! Keep up the good work.

[mikaelkarlsson]

This is a very interesting subject. Refill, thank you.

[charlesholden]

Note on Range, when you travel at a busy time, and all the chargers are being used at a particular location, the overall rate of charging is slowed for each individual.

[patp]

Thanks Joe, very interesting. Yes, i would like you to post more videos about the EV market/industry.

[paulhill]

As the owner of a EV (Tesla Model Y) I find the issue of range anxiety somewhat of a education or experience issue. First, I do have home charging and therefore 95% of my driving is covered by the car's 320 mile capability. For the few long trips the car provide a dynamic list of available charging stations. I live in a relatively rural part of North Carolina and having access to a charger has never been a problem. The time for a charging is typically about 20 minutes, which is about the same time it takes to go to the rest room and purchase some food, so its not a burden. The winning value of an EV is the excellent driving experience and the low cost of once you drive one you will never go back to a ICE auto.

[FN-imxj]

My Tesla M3LR has 450hp, is 4wd and runs at 50% less cost than my wife’s 100hp VW GOLF diesel which is half meter smaller. I can assure you that gives me no anxiety at all.

[runs_on_coffee]

Zeeker is owned by Geely and Geely owns a lot of auto companies in Europe. Lotus, Polestar, Volvo, London Electric Vehicle, plus 14 other auto companies. They sell abut as many cars world wide as Toyota, should be interesting to see how they do over the next year.