Lates News

Singapore's Lianhe Zaobao article on July 10th, entitled "Will Xiaomi deliver a fatal blow to Tesla?". Once upon a time, American electric car giant Tesla enjoyed unparalleled success in China, with Chinese consumers willing to queue up for test drives. But now, Tesla seems like an aging general retreating step by step, watching its market share in China being eroded by waves of attacks from local car companies. The first to rise was Chinese electric car company BYD, gradually shaking Tesla's high-end market share with its competitive prices. Following closely behind, Xiaomi, a consumer electronics company venturing into car manufacturing, has surpassed Tesla's sales in just over a year, despite Tesla's 10 years of experience in China. Xiaomi's strong entry into the market may not be enough to completely replace Tesla's position in China, but it is enough to make Tesla's days in China increasingly difficult.