Tesla continues to lose momentum in China with a decrease in sales as a competition Electric car Car industry companies take over the country’s market.
The Chinese Xiaomi company has gained great popularity with the new EV, which is a direct competitor to the Tesla Y model.
What is happening?
As business from the inside I mentionedXiaomi announced that it had received approximately 300,000 YU7 electric SUVs within an hour of the launch of the car.
The CEO of Xiaomi expressed the company’s interest in competing directly with Tesla with Yu7, which is about $ 1760 of Tesla Y.
Felipe Monuz, global analyst at Jato Dynamics, He said: “The new Xiaomi is likely to be the biggest threat in Tesla yet, not only in China but worldwide. It is very competitive and attractive.”
Xiaomi stands out because it is not just an EV automobile company, but instead applies the “smartphone mentality” to its cars with an improved connection and an integrated digital environmental system. More than 600 million smart Xiaomi devices are used in the world.
Why did Tesla sales decline in great China?
News about Xiaomi Yu7 popular vehicles on China’s continuous challenges in China. Tesla sales in China decreased about 18 %.
Meanwhile, Chinese EV companies are gaining momentum, market share in China and other places around the world. Another Chinese EV maker, BYD, exceeded Tesla in global revenues and witnessed an increase in sales, bypassing Tesla.
Although Tesla built its reputation as the Pioneer of EV, analysts are wondering whether the company can remain able to compete in the EV industry. What is happening in China is important because the nation has become more quickly in the world for EVS.
“The competitors ride quickly and the price war is very aggressive,” Monuz He said.
What is done to support the adoption of the global EV?
This news relates to the executives and investors in Tesla, but it is not necessarily bad to accredit Electric vehicles In general.
With an increase in competition that leads EV prices, more people can afford EVS and adopt clean energy driving.
Competition also pays innovation and make EVS safer and more efficient. For example, Tesla and other auto manufacturers make progress in energy storage and launch improved charging solutions.
Regardless of the manufacturer you choose, Make your next car EV It is a wise decision for your budget and the planet. It translates more EVS on the road into more breathing, more respiratory and more sustainable air with less contaminated and calm gases that perpetuate our climate crisis.
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