Tesla Faces Pressure as Chinese Rivals BYD, Xiaomi, and XPeng Unveil Competitive Advancements

Reported 1 day ago

Tesla's stock dropped over 5% amid rising competition from Chinese automakers such as BYD, which announced groundbreaking battery technology, Xiaomi increasing EV production capacity, and XPeng reporting impressive financial forecasts. These developments highlight the intensifying market pressure on Tesla as competitors ramp up their offerings and aim to capture more of the electric vehicle market.

Source: YAHOO

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