On July 27th, according to Ruijian Economy, Chen Qiuyu, Co-CEO of Fosun International, stated at the China's Future Enterprise Star Annual Conference that there is a misunderstanding about the development of the automobile industry, some believing it's a competition between new energy and traditional energy, but in his opinion, the competition is between automatic driving and manual driving. He said that Tesla, the representative of automatic driving, reached a market cap close to $700 billion since its inception to date. Regarding the decline in Tesla's market cap over the past year, he pointed out that this was due to the rise of new energy vehicles in China and the intense and fierce competition that has emerged.
陈启宇：特斯拉市值下跌是因中国汽车产业出现剧烈竞争
Chen Qiyu: Tesla's market cap fell due to fierce competition in the Chinese auto industry. Fosun International joint CEO Chen Qiyu stated at the Star of Future Chinese Enterprise annual meeting that there is a misunderstanding regarding the development of
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