From Nasdaq:

Tesla has opened its first South American store in Chile’s capital Santiago, introducing sleek electric vehicles to a market with growing competition from Chinese rivals. The company aims to capitalize on Chile’s target to sell only electric vehicles by 2035, despite low EV adoption in Latin America due to high prices and limited charging networks.

At a launch event, Tesla showcased the high-end features of its vehicles, attracting fans and curious onlookers. The company is emphasizing the unique air conditioning system and advanced autopilot features of its EVs, while also making plans to enter Chile’s energy and electricity market.

Chile holds one of the world’s largest reserves of lithium, an essential component of EV batteries. With Tesla moving into South America, the company is positioning itself to access this resource. However, CEO Elon Musk has warned of a slowdown in sales growth due to industry-wide softening demand and increased competition from Chinese EV rivals like BYD.

These developments come as Tesla registers its business in Chile, with a focus on importing, exporting, manufacturing, marketing, and distributing electric vehicles, as well as energy and electricity supply. Tesla’s entry into South America reflects the company’s ongoing global expansion efforts and its response to evolving EV markets.



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