Shifting Gears.
By Mark Andrews
Cheung Kong Graduate School of Business Knowledge. November 2021
IT worker Jefferson Teng fits the stereotype of the customer the new Chinese electric vehicle (EV) startups seek to attract. The Hangzhou resident is an avid car fan in his late twenties, regularly taking new models out for test drives.
“[I never quite understood] how the traditional car industry was moving so slowly each year with each model having a tiny improvement on this part or that part, yet claiming to be ‘the brand new 2020 model that promises to change your life!’ in the ads,” says Teng.
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