Will China's electric vehicle (EV) companies destroy other countries' EV companies in the near future? Elon Musk said this is a certainty if barriers at the trade level are not imposed on Chinese-made EVs that are currently sold at more affordable prices than Tesla's own.
He was quoted as saying this during Tesla's financial announcement for Q4 2023. In the last quarter, Tesla did not reach the sales target set previously. Also at the end of last year, BYD overtook Tesla as the world's number one EV manufacturer.
The emergence of Chinese EV companies is changing the automotive landscape even though they have just entered the market compared to giants like Tesla, Honda, Hyundai Kia and Ford. Although the demand for EVs is declining in China, the cars produced have been successfully exported to foreign markets.
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