Follow the BOE monetary policy and rate statements on August 6 at 14:00 MT time…
By 2020 China could manufacture almost half of new electric car models
By 2020 Chinese car makers are on track to manufacture up to 49 of the 103 fresh electric car models, as part of the Asian country’s push to accelerate the switch to battery power from crude, as a new forecast states published on Wednesday.
American consulting firm AlixPartners told that by 2021 China will do its best to boast almost two-thirds of the world's manufacturing capacity for lithium-ion batteries, and it’s already investing to back current sales of domestic-brand electric cars in the world's largest vehicle market.
Chinese car makers currently report 96% of the electric cars sold in the country. They managed to sell up to 350,000 electric cars vehicles last year in China, which is still less than 2% of total vehicle sales.
By 2025, in terms of production costs electric auto batteries might be close to nearly outperform internal combustion engines. Lower battery costs are expected to underpin consumer acceptance.
The market has started the week with a mixed sentiment…
The US NFP will be published on August 7 at 15:30 MT time.
The market sentiment is indeed risk-on today. Stocks, riskier currencies and gold are rising amid the waning US dollar.