Regardless of my ill feelings toward Xi and the CCP, I have noticed through all my scans and charts that China stocks have come alive despite all their lockdowns. Their markets are pushing bullish crossover after bullish crossover on many symbols we all know. Xi has been vociferous about investing trillions more in infrastructure.
The Chinese EV space, for instance, has started breaking out - and this is after the weak numbers being reported for April and May because of factory shutdowns.
This new push by BYD and Nio for longer battery life and battery swaps has really caught the imagination of the Chinese who live in high-rise condos and who can’t drop a cord down to their new car.
China has definitely got the jump on the West in focusing on battery swaps and longer ranges for EVs.
Also noticeable: Tesla Shanghai is buying batteries from CATL, BYD, and one other I can’t remember. In no case have I seen Tesla try to buy into battery swapping as a future move.
In Berlin, German car enthusiasts are posting photos of hills of discarded Tesla body hulls that were supposed to transform the manufacturing process, but, when one is dinged, you can’t just swap out a dented quarter panel for a new one before interior assembly. That’s something else to watch going forward in China. Will the Chinese take note of the waste at Tesla Berlin from this new manufacturing process which was supposed to speed things up, but which is going to make repairs a nightmare at service centers? See the second tweet below for a photo of a fender bender which will cost $21,500 to repair and which was on Day 73 of waiting on June 5, 2022. It’s stuff like this which tells you why Tesla demand in Europe is cratering.
The 12th Model Y from Giga Berlin was in an accident just 2 days after delivery. Damage was estimated as ~$21.5k. Parts were ordered. Repair shall take about 10 days. But 73 days have now passed and the car is still not fixed due to missing parts. Customer is p*ssed. $TSLA $TSLAQ
Giga012, the 12th Model Y Performance delivered at the factory event at giga Berlin was already in an accident.
Someone drove into it at a red light
p.s. Bonus photos of Berlin “giga-castings” piling up outside the factory. These are bigger scrap piles than what is seen outside the Fremont tents. Costly.