Posted by IDQWE001 > 2023-12-03 07:05 | Report Abuse

Xi’s own family is directly involved in the drive to expand China’s electric vehicle industry and stands to profit from government handouts and political patronage in building new factories to churn out the vehicles.

The key figure is Daniel Foa, a Briton raised in Wimbledon and now married to the president’s niece, Hiu Ng, the daughter of his younger sister, Qi An’an. Conveniently, elite Chinese families use a multiplicity of names but all this is documented in corporate statements and public records.

Foa popped up last summer when a struggling American EV maker, Fisker, announced it was to open a distribution center in Shanghai. According to its own publicity, Fisker is “driven by a mission to create the world’s most emotional and sustainable electric vehicles.”

Posted by IDQWE001 > 2023-12-03 07:09 | Report Abuse

Xi will support America EV Fisker due to his British nephew-in-law, Daniel Foa.

Posted by IDQWE001 > 2023-12-03 07:13 | Report Abuse

Daniel Foa is the China board member of Fisker.

Posted by IDQWE001 > 2023-12-03 07:15 | Report Abuse

Will Xi’s British nephew-in-law beat Elon Musk in China’s EV industry?

https://www.youtube.com/live/je98nEivtic?si=G04LCfjSFFR2mL7r

Posted by IDQWE001 > 2023-12-03 07:17 | Report Abuse

On June 9, Fisker said it plans to open a delivery center in China in 2023 and begin delivering the Fisker Ocean in the first quarter of 2024.

Fisker's leadership team visited China and met with officials and business leaders in Shanghai to discuss collaboration and opportunities in the region, it said in a June press release.

"I believe we can get production up and running in China as early as next year, potentially adding capacity of 75,000 Fisker Oceans annually," CEO Fisker said at the time.

The announcement of the Shanghai Fisker Lounge builds on its China strategy, as Fisker Lounges are located in a high-traffic retail locations where consumers can experience the Fisker brand and get a closer look at Fisker vehicles, the company said overnight.

Fisker is currently delivering the all-electric SUV Fisker Ocean in the US and Europe, which starts at $37,499 in the Sport trim level.

The best-selling all-electric SUV in China right now is Tesla's (NASDAQ: TSLA) Model Y, which starts at RMB 263,900 yuan ($36,130).

In China, the premium and affordable luxury segment is growing faster than the general segment, Daniel Foa, Fisker's China board member, said at the company's annual shareholders meeting on June 6.

Posted by IDQWE001 > 2023-12-03 07:21 | Report Abuse

Brit Marries into China’s First Family

How did a middle-class British entrepreneur find himself within the close circle of China’s first family? Daniel Foa, now 36, came to China to work and met and married Hiu Ng, the niece of China’s next leader, Xi Jinping. “There was a little gang of them who liked going to champagne brunches and playing tennis,” a friend said of their social networks. Now, the unassuming Brit is poised to be an insider in China’s notoriously closed inner circle.

Xi family loves westerns very much.

Posted by IDQWE001 > 2023-12-07 15:01 | Report Abuse

EV maker Nio considers more job cuts after shedding 10% staff

(Reuters) - Chinese electric vehicle (EV) maker Nio (NYSE:NIO) Inc may undertake further job cuts after the company announced plans to cut 10% of its workforce last month, Bloomberg News reported on Thursday, citing people familiar with the matter.

Some departments were asked to prepare reserve lay-off lists, which may widen the original dismissals to 20% to 30% within the unit, according to the report.

The cuts would apply mainly to non-core businesses or ones that would not generate quick returns or require heavy investment, the report added.

Nio did not immediately respond to a Reuters request for comment.

The additional cuts come after Nio said in November that it planned to eliminate 10% of its jobs, as it moves to improve efficiency and reduce costs in the face of growing competition.

Demand for EVs has weakened in China as consumers favour more economical plug-in hybrids.

Posted by qqq47660 > 2023-12-07 17:38 | Report Abuse

China is well on the way to 100% EV while USA will not reach 20% even by 2030.

Posted by qqq47660 > 2023-12-07 17:39 | Report Abuse

By 2024 China will reach 50% EV by sales

Posted by qqq47660 > 2023-12-07 18:07 | Report Abuse

Of the top 10 EV makers in the world 9 are Chinese companies the the other one is tesla

Posted by foongsh > 2023-12-07 18:08 | Report Abuse

Demand for EVs has weakened in China as consumers favour more economical plug-in hybrids.

This is the answer.

Posted by foongsh > 2023-12-07 18:10 | Report Abuse

Xi is supporting his British nephew-in-law's EV Fisker.

Posted by foongsh > 2023-12-07 18:13 | Report Abuse

Nio's QR Loss per share: 2.67 yuan per share loss versus 2.91 yuan loss expected. That was smaller than the 3.7 yuan per share loss recorded in the second quarter of the year. keeping on losing money even having CCP subsidies.

Posted by qqq47660 > 2023-12-07 18:32 | Report Abuse

Nio is not even top 10 EV maker in China

Posted by qqq47660 > 2023-12-07 18:33 | Report Abuse

Xi jinping beloved Huawei is becoming very important to EV in China.

Posted by DickyMe > 2023-12-07 18:47 | Report Abuse

Why worry about investigation?

Posted by qqq47660 > 2023-12-07 18:53 | Report Abuse

VW BMW Merc are all going to manufacture in China to be exported around the world

Posted by qqq47660 > 2023-12-07 18:54 | Report Abuse

Germany will be deindustrilisrd

Posted by IDQWE001 > 2023-12-07 18:55 | Report Abuse

iPhone 16 batteries should preferably be made in India, Apple tells suppliers

As part of the company’s continuing work to reduce its dependence on China, Apple has reportedly told suppliers that it has a preference for iPhone 16 batteries being made in India.

One battery supplier which already manufactures in India has been asked to scale-up production there, and Chinese suppliers have been urged to establish battery factories in the country.

Global supply chain restructuring.

Posted by IDQWE001 > 2023-12-07 18:58 | Report Abuse

Toyota's Camry, best-selling car in US, goes all-hybrid

DETROIT, Nov 14 (Reuters) - The next generation of the Toyota Camry, the best-selling sedan in the U.S. market, will come with only a gas-electric hybrid powertrain, the boldest move yet by the Japanese automaker to push hybrid technology into the heart of the U.S. market.

The 2025 Camry will combine a 2.5-liter gasoline engine with an electric drive system tuned to deliver more power in both front-wheel drive and all-wheel drive versions of the car, Toyota said.

America prefer hybrid vehicle.

Posted by mudaBubu > 2023-12-07 18:59 | Report Abuse

EV maker Nio narrows loss on record deliveries, pledges more cost-cutting to compete in China’s cutthroat market

The Shanghai-based carmaker posted a third-quarter net loss of 4.56 billion yuan (US$639 million), 24.8 per cent narrower than the previous quarter

Revenue more than doubled quarter on quarter to 19.1 billion yuan as the company delivered 55,432 vehicles

Posted by IDQWE001 > 2023-12-07 19:00 | Report Abuse

Chinese battery giant CATL hits back at Duke Energy disconnecting batteries

BEIJING/SHANGHAI (Reuters) - Chinese battery giant CATL has hit back at U.S. utility firm Duke Energy (NYSE:DUK)'s move to disconnect its batteries, saying that accusations about CATL batteries posing a potential security threat are false and misleading.

No CCP batteries.

Posted by qqq47660 > 2023-12-07 19:04 | Report Abuse

EV sales in America meet with huge consumer resistance. No such resistance in China.

And Chinese consumers got so much choice.

Posted by IDQWE001 > 2023-12-07 19:05 | Report Abuse

3 Moody's cuts China credit outlook
Reuters
December 5, 202310:27 PM GMT+8Updated 2 days ago

"We have been expecting downward pressure on the sovereign rating after the PBOC finally acknowledged earlier this year that China’s debt to GDP ratio was approaching 300%. Moody’s last downgraded China’s sovereign rating in 2017 to A1 vs. Aa3 previously due to the rising debt load."

Posted by IDQWE001 > 2023-12-07 19:06 | Report Abuse

PBOC finally admitted China’s debt to GDP ratio was approaching 300%.

Changes not seen for hundreds of years worse than 3rd world countries.

Posted by qqq47660 > 2023-12-07 19:07 | Report Abuse

Huawei is partnering with at least 4 state backed car companies to make EV.

This Huawei JV will be another powerful force.

Posted by qqq47660 > 2023-12-07 19:09 | Report Abuse

EV will succeed in China but will fail in America

Posted by IDQWE001 > 2023-12-07 19:09 | Report Abuse

Asian stocks sink on China weakness, Nikkei slides as BOJ talks pivot

Chinese bluechips near 5-year low, trade data offers little cheer
Chinese markets continued to lag their Asian peers, with the bluechip Shanghai Shenzhen CSI 300 index sinking 0.5% to a near five-year low. The Shanghai Composite lost 0.5% and traded at an over one-month low, while Hong Kong’s Hang Seng index slid 1.9% to a 13-month low.

Posted by foongsh > 2023-12-07 19:15 | Report Abuse

CCP EV supply more than demand. Due to import tax in EU and America, no stable power supply in 3rd world countries, CCP EV could only supply to developing countries. CCP EV killing each other most of them will go bankrupcy.

Posted by qqq47660 > 2023-12-07 19:16 | Report Abuse

China and America will continue to de couple.

And the people who will suffer will be American consumers. Chinese consumers will have plenty of choices as China manufacturing prowess is irreplaceable

Posted by qqq47660 > 2023-12-07 19:36 | Report Abuse

in future all the BMW people buy will come from China with Chinese parts.

Posted by qqq47660 > 2023-12-07 19:37 | Report Abuse

EV sales in America meet with huge consumer resistance. No such resistance in China.

And Chinese consumers got so much choice.

Posted by qqq47660 > 2023-12-07 19:44 | Report Abuse

america will contribute to climate change but will not be able to help solve climate change problems.

Posted by qqq47660 > 2023-12-07 20:15 | Report Abuse

The decoupling of US and China will continue for 10 years. But it will hurt America consumers far more. Eg...cars of same specs sold at 60000 in US pwill be sold in China at 20000-30000

Posted by foongsh > 2023-12-07 20:31 | Report Abuse

Posted by IDQWE001 > 1 hour ago | Report Abuse

Asian stocks sink on China weakness, Nikkei slides as BOJ talks pivot

CCP rubbish stocks for qqq. Lol.

Posted by IDQWE001 > 2023-12-07 20:34 | Report Abuse

Nobody care driving EV or not, most important making money from Stock markets.

Posted by foongsh > 2023-12-07 20:35 | Report Abuse

Posted by IDQWE001 > 1 hour ago | Report Abuse

Asian stocks sink on China weakness, Nikkei slides as BOJ talks pivot

Chinese bluechips near 5-year low, trade data offers little cheer

5 years low worse than 3rd world countries.

Posted by foongsh > 2023-12-07 20:37 | Report Abuse

Moody’s cuts outlook for eight China banks on potential credit quality decline; downgrades Hong Kong too

-Moody’s Investors Service cut its outlook for eight Chinese banks to negative from stable.
-This comes a day after it downgrades China’s credit ratings.
-The ratings agency also lowered Hong Kong’s outlook from stable to negative, citing its linkages with mainland China.
-Moody’s also slashed its outlook for 22 Chinese local government financing vehicles.

Posted by foongsh > 2023-12-07 20:37 | Report Abuse

Moody’s Investors Service cut its outlook for eight Chinese banks to negative from stable on Wednesday, following an identical downgrade to China’s government credit ratings a day earlier.

The ratings agency also lowered Hong Kong’s outlook from stable to negative, citing tight political, institutional, economic and financial linkages between Hong Kong and mainland China.

Posted by foongsh > 2023-12-07 20:39 | Report Abuse

The lenders that were downgraded included the the big four Chinese lenders, Industrial and Commercial Bank of China
, Agricultural Bank of China, Bank of China and China Construction Bank Corporation.

The other banks on the list were China Development Bank, Agricultural Development Bank of China, the Export-Import Bank of China, and Postal Savings Bank of China Co.

The downgrades highlight worries over China’s rising debt level and its effect on GDP growth in the world’s second-largest economy.

Moody’s also slashed its outlook for 22 Chinese local government financing vehicles to negative from stable.

Posted by IDQWE001 > 2023-12-07 20:48 | Report Abuse

Euro Area Stock Market Index (EU50) 4470.100 5 years new high compare to CCP 5 years new low.

Posted by qqq47660 > 2023-12-07 21:36 | Report Abuse

the CPC has never fully trust the stock market. It is considered as a tool of the Imperialists.

Posted by foongsh > 2023-12-07 21:47 | Report Abuse

Posted by IDQWE001 > 54 minutes ago | Report Abuse

Euro Area Stock Market Index (EU50) 4470.100 5 years new high compare to CCP 5 years new low.

All strong and soild alliance stock market break new high (at least this year) recently eg. EU, Japan, Taiwan, US, India. Due to real estate bubble, high jobless rate, homebuyers loan payment defaults, 300% debt compare to GDP. CCP bluechips near 5-year low, this is the conclusion. Silly Xi brought the country to wrong direction.

Posted by foongsh > 2023-12-07 21:49 | Report Abuse

Moody’s also slashed its outlook for 22 Chinese local government financing vehicles to negative from stable. EV is losing money, local governments in bad debts no more money financing EV.

Posted by foongsh > 2023-12-07 21:52 | Report Abuse

Real estate bubble bad debts extending to eight CCP banks. No wonder cuts outlook for eight banks on potential credit quality decline.

Posted by foongsh > 2023-12-07 21:53 | Report Abuse

Hong Kong downgraded too because of lending too much money to cheating CCP developers. CCP a big blood suckers.

Posted by qqq47660 > 2023-12-07 22:02 | Report Abuse

HK will still have a role in the greater bay area.

Posted by qqq47660 > 2023-12-07 22:05 | Report Abuse

in finance, in hedge funds, in global media, capitalists America still have advantage.

but these are emotional creatures, and short term in nature

Posted by qqq47660 > 2023-12-07 22:06 | Report Abuse

China is undergoing a transition to make it more sustainable, more technology based, more self reliance and succeeding fast .. stock market is control by western media, western fund managers, emotional in nature and short term in nature

Posted by qqq47660 > 2023-12-07 22:08 | Report Abuse

the americans can kill listed companies but cannot kill Huawei.

the CPC will learn from this.