CEO-Talk Patrick Chou + Market prospect EVs

China now has more billionaires than the United States. Patrick Chou particularly benefits from this. He sells luxury and sports cars. In an interview with Frank Sieren, the entrepreneur, who grew up in Germany, tells us why sales rose during the COVID pandemic and why young people are also among his customers. Chou is convinced that German manufacturers will dominate the luxury car market for a long time to come. But they would have to be mindful and not sleep through new trends.

EVs are already a familiar trend. They are considered the hope for reducing emissions in traffic. China is the largest market for cars with alternative drives. But one problem remains: The high dependence on coal-fired electricity. The dirty power source reduces the climate benefits of EVs, according to a new collection of data from a Bloomberg think tank. We have compiled the most important key figures on the market development of EVs and batteries in the relevant markets.

Economically, China came out of the pandemic quite well. But in the meantime, growth is slowing down. The International Monetary Fund has recommended some reforms to China. The state should strengthen investments in the social system and in sustainable sectors, according to IMF experts. In today’s Opinion, Shang-Jin Wei takes up the growth debate. The professor of finance and economics at Columbia Business School criticizes Beijing’s reforms of the real estate and tech sectors for coming too abruptly and costing growth. He says that while Beijing needs to be forceful in achieving its climate goals, it should send the right signals early on so that companies can adapt to the new realities in time.

Have a great start to the week!

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Nico Beckert