Elon Musk's Tesla is flailing in China and BYD's rapid rise is to blame

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Elon Musk's Tesla is flailing in China and BYD's rapid rise is to blame - Business Standard

Quick Summary:

Both the Model Y and Model 3, the two vehicles Tesla makes in Shanghai, have only had their prices trimmed, rather than slashed, and buying one still costs around $33,500 on average.

Tesla’s factory on the outskirts of Shanghai has had some of its production lines retooled for efficiency and to relaunch the popular Model Y, so it’s to be expected both that output dropped and will take some time to ramp back up.

Tesla’s shipments plunged 49 per cent in February from a year earlier to just 30,688 vehicles, the lowest monthly figure since way back in July 2022, when it shipped just 28,217 EVs — and that was in the middle of Covid.