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Wanna Buy an EV Company? China Has Some for Sale

Remember when the China market was the golden child of the pure EV world? When U.S. companies wanted to get a piece of the China EV market because it was going to be HUGE? Well, it seems that bubble has burst.

China’s EV market is growing even more slowly than the electric car market in the U.S. American investors aren’t as enthralled by China EV investments as they once were. China’s central government hasn’t given up on electric vehicles. But it has gotten more particular about what companies it supports. So small Chinese EV companies are looking to the U.S. for investors. I think it is a waste of their time and money.

A few days ago, I got several emails from Jiangsu Wonder Electric Vehicle Group. Wonder EV is the subsidiary of a privately-held automotive supplier company based in Beijing. It isn’t producing EVs, at least not in any volume. But it wants to. The letter of solicitation seeks US $50 million to establish an EV production base to produce a plethora of EVs, from low-speed two-seaters to high-speed small sedans to vans and golf carts.
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