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As China's economic growth is more consumer-led and now has more risk exposure to the outside world, Chinese individuals would need to invest more strategically outside of the country and diversify their investments, he said.

Apple once investigated building its own vehicle. The company had a team of more than a dozen engineers dedicated to detailed work such as ensuring doors closed quietly instead of slamming shut, a fourth person briefed on the matter said.

Apple's stock price fell 6.73 percent to 2.82 a share on Tuesday.

As China and ASEAN celebrate the 15th anniversary of strategic partnership next year, both sides are also facing a critical point to bring the ties to a higher level, Wang said, calling for future actions to build a higher level China-ASEAN strategic partnership and a closer community of common destiny of China and ASEAN.

As EV demand grows there is an increasing need for cell manufacturing facilities close to automotive production. This has led to a boom in European cell plants, and the rest of the supply chain is also slowly making its way to Europe.