Tesla faces a number of challenges in Europe including continued intense competition and brand damage from Elon Musk's political involvement.

KEY POINTS

New European car registrations of Tesla vehicles totaled 8,837 in July, down 40% year-on-year, according to the European Automobile Manufacturers Association, or ACEA.

BYD recorded 13,503 new registrations in July, up 225% annually.

Elon Musk’s automaker faces a number of challenges in Europe, including intense ongoing competition and reputational damage to the brand.

  • finitebanjo@lemmy.worldEnglish
    3·
    2 days ago

    Nobody subsidizes on the same scale as what China is doing. Nobody operates entire market sectors at a loss for strategic advantage. The reason why China is doing this is because they’re comfortably in the lead among world powers and can afford to lose a bit, and also: everything is a weapon in their eyes, and they’re determined to use their weapons on everyone else.

    EDIT: Although I do admit the Oil Industry is pretty equally cutthroat, Saudis weaponize crude and Russia weaponizes Natural Gas.