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China's Ambitions To Power the World's Electric Cars Took a Huge Leap Forward This Week (reuters.com)
An anonymous reader quotes a report from Reuters: Future Mobility Corporation (FMC), the Chinese parent company behind electric car start-up Byton, has placed an order for a paint shop capable of handling 150,000 cars per year, German supplier Duerr said on Wednesday. China's Byton, a newcomer headed by the former head of BMW's i8 program, has already released plans for a premium electric SUV vehicle, the latest in a series of China-backed electric autonomous prototypes. Byton has financial backing from Chinese state-owned carmaker FAW Group and the country's dominant battery producer Contemporary Amperex Technology Co. (CATL) This is just one of the stories this week relating to China and the electric car industry. MIT Technology Review adds: In a public offering on June 11 in Shenzhen, battery giant Contemporary Amperex Technology Ltd. (CATL) raised nearly $1 billion to fund ambitious expansion plans, and its stock has been shooting up every day since. Thanks largely to the company's new plants, China will be making 70 percent of the world's electric-vehicle batteries by 2021, according to Bloomberg New Energy Finance (BNEF).
Just seven years later, CATL has built up the biggest lithium-ion manufacturing facilities in the world, according to BNEF. The company can crank out around 17 gigawatt-hours of lithium-ion cells annually, placing it just ahead of Korea's LG Chem, the Tesla and Panasonic partnership, and China's electric-vehicle giant BYD. Flush with capital from its offering, CATL plans to build two new plants and expand existing facilities, pushing its capacity to nearly 90 gigawatt-hours by 2020. [...] Notably, it's the only Chinese battery company so far to line up deals to supply foreign automakers, including BMW, Honda, Nissan, Toyota, and Volkswagen.
Just seven years later, CATL has built up the biggest lithium-ion manufacturing facilities in the world, according to BNEF. The company can crank out around 17 gigawatt-hours of lithium-ion cells annually, placing it just ahead of Korea's LG Chem, the Tesla and Panasonic partnership, and China's electric-vehicle giant BYD. Flush with capital from its offering, CATL plans to build two new plants and expand existing facilities, pushing its capacity to nearly 90 gigawatt-hours by 2020. [...] Notably, it's the only Chinese battery company so far to line up deals to supply foreign automakers, including BMW, Honda, Nissan, Toyota, and Volkswagen.
Nope, Henry Ford incorporated in 1903 and made a profit in 1903. Tesla has been around for 15 years and still making no profit.
Surely you know you are lying by telling only half the truth, right? I mean, if you knew he started in 1899 and nearly went bankrupt with a low-quality, over-priced car, and then re-incoroprated in 1903, you also know that he didn't start shipping the Model-T until 1908. Before that he was selling a custom, low-volume, high-end roadster, the model 999. You might have heard, Tesla also started out selling a low-volume, high-end roadster.
But one way Musk is not like Ford - Ford didn't have to compete with an already entrenched global industry. So, that might have slowed Ford down just a little bit. But I will give you this, Musk is a thin-skinned narcissistic ayn-randian asshole, but at least he's not a god damn nazi.