Tesla is not the only electric vehicle (EV) maker to have seen an explosive rally of its stock so far this year. Shares in Tesla’s Chinese competitors have outperformed the global auto index as investor sentiment toward EV stocks has become increasingly positive over the past year, and as some of China’s electric car makers announced major financing milestones. Despite the pandemic, the increase in EVs sales in China, the world’s largest auto market, was larger than the rise in the overall car market last month, although EVs are still a small portion of total vehicle sales in China. Tesla and the race to become ‘the next Tesla’ are fueling a rally in the stocks of Chinese EV manufacturers, which in turn has given rise to increased fund-raising this year, including on the U.S. stock market, Joanne Chiu of The Wall Street Journal writes. So far this year, Chinese […]