China Is Charging Towards Electric Cars

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Aug. 27 (Bloomberg) -- Matt Miller reports on rising electric car sales in China. He speaks on “In The Loop.” (Source: Bloomberg)

Growing out of control.

With this chicken and egg approach payoff for the company -- country?

Matt miller has been the cap demand in china for electric vehicles.

It is big, right, that?

It is not as big as it is here, keep in mind the auto market in china is growing at a faster pace.

China puts the carriage before the horse, as they say.

I actually took a look at how much this is in relation to the tesla revenue, and if you look back at tesla's revenue since their inception and really 2007, through this year, even taking in mind the most bullish forecast, it is still more than twice as much as tesla has ever sold.

So, i thought that was very interesting.

We were expecting tesla to sell almost $4 billion in cars this year -- or get $4 billion in revenue.

They got $2 billion in revenue last year.

This would work those numbers and maybe help them sell more cars.

What is interesting, though, tesla's stock did not really do so well yesterday on this news.

That is because tesla is not the biggest carmaker, electric car seller in china.

Competitors over there actually rose in shanghai because of this news.

Byb has about 37% of the market for electric, plug-in vehicles.

Green cars.

The market there -- they want to come into the u.s.. the byd costs about half as much as a tesla.

That is why they are stronger there.

The market is not as big.

They have sold about 20,500 green cars they say in the first half.

In the u.s., through july, 66,000-in hybrids -- plug-in electric cars, i should say.

Tesla has a huge share of the electric-only market, but if you look at all of the green car sales in the u.s., tesla has sold about 30,000 units career through now in the u.s. right.

Of the model s, whereas the chevy volt has sold 65,000 and the spark has sold -- what is the is a structure like?

Do they have many charging stations?

Not nearly as many as we do.

We have about 6000 here for public use.

There are more for any use.

China is not there yet.

They're hoping this will affect -- the chicken and the egg argument is exactly what this is, they hoping it will spur the electric market and help it grow strongly.

It is a bigger country to drive through.

It is a large country, a very big place with so many people and great food.

[laughter] thank you, matt miller.

We are a few minutes away from the opening out.

We have the top 10 trades you do not want to miss right after this break.

Keep it here on "in the loop."

This text has been automatically generated. It may not be 100% accurate.


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