Tesla’s China foray is generating a lot of buzz in the market, but despite the excitement over the luxury electric car brand, motorists are not keen on buying new energy vehicles.
Many charging posts in Shanghai city are idle and rusting, the China Securities Journal reports. And that’s because less than a thousand e-cars are running on the streets of the mainland’s financial capital.
There is a whole world of difference between buyers of electric cars and those who punt on the stocks of companies that make them.
Before making a purchase, motorists want to make sure the car won’t go up in flames for unknown reasons. They also want to be assured there will be enough charging posts on the streets. If they have to charge it at home, they have to get down to the nitty gritty, including the cost and installation details.
Speculators, on the other hand, are the least concerned about these things. E-car is a concept play; it doesn’t matter much how many of these cars are being driven out of the showroom, as long as hopes are running high that orders will blow out in the future. Current issues like inadequate charging facilities, safety and costs are all secondary considerations, as long as optimism about improving the technology and production scale dominates market sentiment.
– Contact us at [email protected]