‘Hot Industry’
“New-energy vehicles are the hot industry that tons of investors are looking at,” Zhong said.
The Chinese government has started a strategic initiative to build electric cars on the mainland. As many as 40 models will go on sale in China this year, triple the number available two years ago, Bloomberg Intelligence estimates.
“It’s good for him to enter an industry that enjoys significant support from the Chinese government,” said Cao He, a Beijing-based auto analyst at China Minzu Securities Co. “People like Wong won’t remain low-profile forever.”