https://edition.cnn.com/2020/10/19/investing/premarket-stocks-trading/index.html
China’s economy expanded by 4.9% in the third quarter compared to the previous year, according to government data published Monday, showing the rest of the world what’s possible when Covid-19 is brought under control.The pace of growth was a tad slower than economists had expected. But there were plenty of signs of strength, with the services and construction sectors performing especially well.China’s economy has now recovered from its historically bad first quarter, when the coronavirus forced the country to shut down. GDP grew a cumulative 0.7% through the first nine months of 2020, the data show. The best is yet to come.
The Made-in-China model 3 vehicles are ready to leave the port in Shanghai next Tuesday to be exported to Germany, France, Italy and other European countries, although CEO Elon Musk said the company did not plan to export when building its Gigafactory in Shanghai.
In the near future, Tesla hopes the Made-in-China vehicles can benefit global consumers not only through China manufacturing but China design, research and development, Song Gang, manufacturing and operations head of Tesla’s Gigafactory in Shanghai said, according to media reports on Monday.
Auto analysts tied the reason for exports to robust capacity at the Shanghai factory, competitive costs of “Made-in-China” products, and the complete supply chain in the Chinese auto sector.
Tesla is not alone. BMW and Polestar are making electric vehicles (EVs) in China and selling them to Europe.
