CNBC | Evelyn ChengBEIJING – U.S.-listed Chinese electric car companies are spending more on research as a ratio to sales than Tesla , according to CNBC analysis of the four automakers' first-quarter earnings.
Of the four U.S.-listed Chinese electric car companies, Nio ranked first, spending nearly 29% of revenue in the first three months of the year on research and development.
He was referring to a popular term in China to describe fierce competition, especially in the electric car industry.
She noted that can help Chinese electric car companies respond more quickly to customers and market needs than traditional automakers.
Geely has also released an electric car architecture called SEA that it says allows for quicker production of different sized vehicles.
Persons:
Evelyn Cheng, Paul Gong, Nio, Elon, Feng Shen, Shen, William Li, Li, Jing Yang, Zeekr's, Parent, Ren Xiangfei, Ren, Geely, Tesla, Taylor Ogan
Organizations:
CNBC, UBS, Elon Musk's, Ford Motor, China's Ministry of Industry, Information Technology, Fitch, China Passenger Car Association, Snow Bull, Tech
Locations:
Hefei, Evelyn Cheng BEIJING – U.S, U.S, China, Nio, Hefei city, Anhui, Shanghai, Asia, Pacific, Zhejiang province, Hong Kong, Shenzhen