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The new car-building forces in China are popular again. Recently, the stock market of new energy vehicles has risen collectively, and the market capitalization has reached a new high, surpassing the century-old traditional automobile giants one after another. In the latest ranking of global auto companies' market capitalization, NIO surpassed Daimler to become the fifth global automaker, while Xiaopeng surpassed Honda.

Tesla is still far ahead of the global auto companies in terms of market capitalization. By the close of US stocks on November 23, US Eastern time, Tesla's share price had reached a new high, closing at US $521.49, with a market capitalization of US $494.32 billion, close to the US $500 billion mark.

You know, in June this year, Tesla's total market capitalization was about 190 billion US dollars. At that time, Tesla's share price was growing rapidly and the capital markets were optimistic. Driven by multiple good news, Tesla's share price continues to rise. Unexpectedly, five months later, Tesla's market capitalization had reached the $500 billion mark, nearly 2.6 times that of the original.

In the latest news, according to the Bloomberg Billionaires Index, the net worth of Tesla CEO Musk has risen to $128 billion, surpassing Bill Gates to become the second richest person in the world after Amazon founder Bezos.

In addition to Tesla, the share prices of China's new car-building forces have also risen sharply, and their market capitalization has repeatedly reached record highs.

Wulai's market capitalization has reached $75.44 billion (about 496.76 billion yuan), surpassing Mercedes-Benz parent Daimler to become the fifth largest automaker in the world by market capitalization. The current market capitalization of Xilai is also very close to that of BYD, China's new energy giant. As a result, two Chinese car companies have been born in the top five ranking of global car companies by market capitalization.

Toyota and Volkswagen ranked second and third, with a market capitalization of $199.54 billion and $92.92 billion, respectively.

Xiaopeng Motor, another Chinese new power car company, has exceeded the $50 billion mark for the first time, reaching $51.97 billion. It has also helped it surpass Honda to become one of the top 10 car companies in the world by market capitalization.

On August 27th, Xiaopeng Motor was officially listed on the New York Stock Exchange under the symbol "XPEV". Less than three months after listing, Xiaopeng's share price has skyrocketed.

Not long ago, Xiaopeng announced its first financial results after its listing. In the third quarter of 2020, Xiaopeng's electric vehicle delivery rose 266 per cent year-on-year to 8578 vehicles, revenue rose 342 per cent to $293 million and gross profit margin turned positive to 4.6 per cent, according to the financial report. Xiaopeng still failed to turn a profit, with a third-quarter net loss of $169 million, or 75 cents per American depositary share. Even so, analysts at JPMorgan say the company was successful in the third quarter.

Ideal car ranks 14th in the world by market capitalization, surpassing Ford with a market capitalization of $36.5 billion.

Ideal Motor announced its third-quarter results on November 13th, with an operating income of 2.511 billion yuan and a net loss of 107 million yuan belonging to shareholders of listed companies, with a gross profit margin of 19.78%. In terms of new car delivery, ideal ONE delivered 8660 vehicles in the third quarter.

With the increasing trend of new energy around the world, the related consumer market and investment market are also showing a lively scene. Even though the market capitalization has repeatedly reached record highs, the market share of Ulay, Xiaopeng and ideal Automobile is still very low compared with Toyota, Honda, Volkswagen and other traditional car companies, and they are not really profitable.

Some people in the industry said that it is undeniable that even if there are outsiders who say that Tesla and Lulai car companies have bubbles, new energy vehicles are the trend and are precisely the driving force of the capital market.

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