Not New

Our media reported that some smartphone makers has entered the Electric Vehicle (EV) market. For example, Xiaomi, the Chinese electronics giant, will invest in $10bn over ten years to manufacture EVs. Of course, Apple turned down its rumor about producing “Apple Car”, but we have heard the rumor more than years. In fact, Foxconn, the largest manufacturer for Apple’s products, decided to enter the market as well.

Therefore, we think that to enter the EV market is not new but necessary for many companies. Why do they so? One of the reasons is to increase their share capital based on their financial numbers, strategies, dialogue and future projection. As we see the data later, the market size of the EV industry is huge. In addition, it is growing very rapidly and it can give other opportunities to earn money such as its App.

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