Tesla Vs BYD: Chinese automakers will demolish, says Elon Musk warning of fierce competition
Chinese car companies are making strides with their stable supply chains and competitive pricing, their low brand awareness and perceived reliability, durability, and safety challenges in the United States may hinder their progress in winning U.S. market share, according to industry experts. Musk's comments coincide with the U.S.
presidential election gaining momentum. President Joe Biden has expressed concerns about China's determination to dominate the EV market, vowing not to let it happen. Former President Donald Trump, a potential frontrunner for the Republican nomination, has signaled a willingness to impose stronger tariffs on Chinese imports if elected.
Musk clarified on Wednesday that there is currently no obvious opportunity for partnership with Chinese rivals. Still, Tesla remains open to providing access to its charging network and licensing technologies such as self-driving to Chinese companies. In Europe, a protectionist stance toward Chinese EV makers has been evident, with the European Commission investigating the imposition of tariffs to counter alleged benefits from state subsidies for Chinese EV imports.
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