Chinese EV Companies Invest More in Overseas Factories than Domestic Ones for the First Time in 2024
Investment Shift: Chinese electric vehicle (EV) companies are now investing more in overseas factories than domestically, with 2024 marking the first year foreign manufacturing spending has surpassed domestic plans.
Focus on Battery Production: Approximately 74% of the foreign investments are directed towards battery plants, while assembly plants are also growing but remain behind in total value.
Factory Operations Abroad: Several new foreign plants, including those by Great Wall Motor and BYD in Brazil, have begun production, although only 25% of announced overseas projects are completed compared to a 45% completion rate for domestic projects.
Political Concerns: The Chinese government is increasingly worried about potential job losses and technology leakage due to this foreign investment trend, which may lead to tighter controls on outbound investments in strategic sectors like EVs.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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