To add to your observation, many Chinese Uber (called Didi) are EVs, which is included in your countings. I counted about 1-2 in 10 couple of months ago in Shanghai. I doubt Shanghai taxi drivers will take up on EVs because they drive more than 500KM every day, most of the taxis are on 24 hour run (two persons sharing one car).
According to the Beijing government, the waiting list for EV number plate exceeded 300K in June 2018, the Beijing government set a quota of 54K EV number plates a year.
Up till now, one potential competitor to Tesla is Nio, a Nasdaq listed Chinese EV maker. It started selling es8 model EV this year and was constrained by production bottleneck. So far, it delivered over 3000 units and is looking to reach 10K units in the end of 2018. This es8 is pretty ok with a decent price tag.
I am not worried about the OJR shares in AJM at all, some Chinese company will pick that up for sure if OJR go bust. The Chinese is moving in a big way to renewable energy. They supply the world majority solar panels, wind turbines and are building more hydro power stations every year, etc. They need Li battery more than anyone else, so that they can dramatically reduce their dependence on mid east oil.
The Chinese EV/lithium blue print was set at least 10 years ago ( i speculate), and advancement in lithium battery technology is the last piece of jigsaw, which means solar panels, wind turbines and hydro stations are more meaningful. The EV development will give the Chinese auto makers a chance to become a major player in auto industry.
AJM Price at posting:
24.5¢ Sentiment: Hold Disclosure: Held
