Elon Musk stressed that Tesla is currently “winning in China” and predicted that a Chinese automaker will be its closest rival.
In the field of electric vehicles, Tesla faces competition from a number of Chinese start-ups, including Nio, Xpeng, and Li Auto.
The automaker BYD, which is supported by Warren Buffett, is currently Tesla’s greatest competition in China. When plug-in hybrids are included, BYD sold a total of 1.8 million vehicles last year, including 911,140 battery electric vehicles. In total, 1.31 million Tesla vehicles were delivered in 2022.
On Tesla’s earnings call on Wednesday, Musk responded to a question about the competitive environment for electric vehicles by adding that the business is “excited up about the future and, well, it’s going to be awesome.”
Source (CNBC)
