Hedge Fund Shorts Nio and Honda, Favors Hyundai in Asia EV Race
- Timefolio Asset also shorts China’s Xpeng and Japan’s Nissan
- Korean EV penetration, new car launches ‘impressive,’ Lee says
Employees stand next to a ET7 sedan at a NIO Inc. dealership in Shanghai.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
An Asian hedge fund is shorting some Chinese and Japanese automaker stocks on bets they will lose out to South Korean rivals in the global electric-vehicle race.
“As the world develops into an increased penetration of EV, I think the Japanese automakers will really suffer,” Jae Lee, chief executive officer at Timefolio Asset Management SG Pvt, said in an interview. “It looks like the Koreans will outperform Japanese automakers in the longer term in the EV space,” said Lee, whose fund holds shares of Hyundai Motor Co. and Kia Corp.