Electric car battery companies are hard to replicate European success in China
Companies of battery manufacturers and electric vehicle producers were boosted by the performance of the European market. However, the situation in the Chinese market is not too optimistic, and investors who plan to buy now should think twice.
The market value of Tesla reached 173 billion US dollars, which is not far from Toyota Motor Corp., which took the position of the world's most valuable car company at 203 billion US dollars. Last week, Tesla's stock price once experienced a surge, once bringing the market value of the two closer. Nikola Corp., an electric truck startup, has no revenue, but its market value briefly exceeded Ford Motor Co.
Not surprisingly, the share prices of electric vehicle battery suppliers are also booming. South Korea’s Samsung SDI Co. and China Ningde Times New Energy Technology Co., Ltd. have both risen about 50% this year, and their South Korean competitor LG Chemicals rose 35%.