From Fortune:

Elon Musk loses title as world’s top EV maker as Tesla fails to impede BYD’s momentum in China. Despite price cuts in Germany, BYD’s production center in Hungary and Volkswagen’s gains in the German EV market can pose significant threats to Tesla.

No longer able to command EV market like it once did, Tesla cuts Model Y Long Range and Performance prices in Germany by up to 9%. Its struggle is evident with Volkswagen taking the lead for market share in Germany in 2023.

BYD is causing significant disruptions in the EV market in Europe and the U.S. BYD’s control over the entire supply chain of its EV batteries has allowed it to push its prices well below those of other manufacturers.

Tesla engages in price war with BYD in China and the U.S., but it is nosediving in performance despite moderate price cuts in China. The group is faced with production disruptions, likely caused by Red Sea attacks, and delays at its Berlin Gigafactory.

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This news article gives updates on Elon Musk watching Tesla struggle with its top position in the EV market and does not promote anything.



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