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China Tech Buzz

Global News Impacting Chinese Tech

Tesla’s China Woes, Giga Berlin to Soon Come Online, Earnings Fail to Lift Nio, Lordstown On Track, Fisker’s Debt Financing and More

News Snapshot:

The EV space was brimming with activity in the week ended Aug. 13, with fund raising and earnings dominating the headlines. Tesla’s July Deliveries Tumble But Musk Isn’t Bothered: Tesla, Inc. (NASDAQ: TSLA)’s China sales fell 69.4% month-over-month in July, according to data released by industry body China Passenger Car Association. About three-fourth of the wholesale sales were exported. Later, Tesla’s CEO Elon Musk explained away the weakness through a tweet, stating the company makes cars for exports in the first half of the quarter and cars meant for local sales are made in the later half of the quarter….

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