Musk praised China as a worthy competitor

Detroit? no Germany? Whoah! Musk has mentioned China as EV maker Tesla’s biggest rival.

According to Musk, the country is likely to be second in the electric car manufacturing sector.

China is Tesla’s second largest market. In 2022, nearly two-thirds of all global electric vehicle sales took place in this country. Tesla’s largest factory is also here.

It is a market that has embraced the EV sector well. And in this, various companies including ‘Expeng’, ‘Neo’ and ‘BYD’ are competing in terms of design and price.

Tesla said during its financial report on Wednesday that demand for its cars has increased recently due to lower car prices. And Musk fears the economy will go through a recession this year. As a result, the company is working to reduce costs.

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