Elon Musk Warns of Chinese EV Firms' Potential to 'Demolish' Global Rivals
Tesla CEO Elon Musk warned that Chinese EV firms, such as BYD, could "demolish" global rivals without trade barriers, as they are becoming increasingly competitive and successful outside of China. Despite Tesla's efforts to cut prices and expand its lineup, Chinese EV makers are moving fast and expanding their foreign footprint. However, they still face challenges in brand awareness, reliability, and safety in the U.S. market. The U.S. and Europe are considering policies to protect their automakers against cheaper Chinese EV imports benefiting from state subsidies.
