{"id":57950,"date":"2023-09-07T05:25:46","date_gmt":"2023-09-07T09:25:46","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/tesla-and-byd-are-winning-in-china-why-lucids-taking-time-to-join-the-race\/"},"modified":"2023-09-07T05:25:49","modified_gmt":"2023-09-07T09:25:49","slug":"tesla-and-byd-are-winning-in-china-why-lucids-taking-time-to-join-the-race","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=57950","title":{"rendered":"Tesla and BYD Are Winning in China. Why Lucid&#8217;s Taking Time to Join the Race."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000738060\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<p>        <!-- eventually when we know what this card will be we can change it and leave this one --><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>\n        Tesla<br \/>\n       and<br \/>\n        BYD<br \/>\n       are dominating the Chinese electric-vehicle market. So it\u2019s understandable, then, that a company keen to join the race\u2013like<br \/>\n        Lucid<br \/>\n      \u2013should want to take its time to make it count.<\/p>\n<p>\n        Lucid<br \/>\n       (ticker: LCID) is \u201cexploring\u201d selling its cars in China, a senior executive said at Germany\u2019s IAA Mobility event Tuesday. The U.S. EV start-up said in June that it intends to expand into China. However, chief engineer Eric Bach said there\u2019s still no date for its entry into the market, stressing the importance of getting its Chinese expansion right.<\/p>\n<div class=\"paywall\">\n<p>\u201cIf you enter China on the wrong terms, you can make a lot of mistakes,\u201d he said in an interview with CNBC.<\/p>\n<p>BYD (1211. Hong Kong) is the market leader in China, followed by<br \/>\n        Tesla<span>,<\/span><br \/>\n       (TSLA) in what has become a two-horse race. BYD sold more than 700,000 electrified vehicles in the second quarter, with the vast majority in China, up nearly 100% from the same period a year ago.\u00a0\u00a0<\/p>\n<p>Tesla doesn\u2019t report sales geographically but its second-quarter figure is likely around 155,000 cars sold in China, a 70% jump.<\/p>\n<p>Combined second quarter deliveries for<br \/>\n        Li Auto<br \/>\n       (LI),<br \/>\n        NIO<br \/>\n       (<br \/>\n        NIO<br \/>\n      ) and<br \/>\n        XPeng<br \/>\n       (XPEV), totaled 133,258 units.<\/p>\n<p>Just because BYD and Tesla are winning, doesn\u2019t mean there\u2019s no hope for Lucid. The fast-growing nature of the market means it makes sense to get involved.\u00a0<\/p>\n<p>\u201cIt\u2019s going to be likely the world\u2019s largest and fastest adopting EV market as we can see\u2026 It\u2019s something we are exploring, we are investing in,\u201d Bach said.<\/p>\n<p>Write to Callum Keown at callum.keown@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/tesla-byd-lucid-china-stocks-f333717b?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tesla and BYD are dominating the Chinese electric-vehicle market. So it\u2019s understandable, then, that a company keen to join the race\u2013like Lucid \u2013should want to take its time to make it count. Lucid (ticker: LCID) is \u201cexploring\u201d selling its cars in China, a senior executive said at Germany\u2019s IAA Mobility event Tuesday. The U.S. EV [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":57951,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-57950","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tesla and BYD Are Winning in China. Why Lucid&#039;s Taking Time to Join the Race. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Tesla and BYD are dominating the Chinese electric-vehicle market. 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