The “Tesla-Killers” from China
Legacy automakers have surrendered their EV ambitions after dipping their toes in and getting bitten by the shark (Tesla). So who is the next “Tesla-Killer”?
News agencies have transitioned towards China EVs to continue their narrative that Tesla will fall. $Li Auto(LI.US$ $NIO Inc(NIO.US$ $XPeng(XPEV.US$ have shown strength in this area but the one to lead them would be $BYD Company ADR(BYDDY.US$. BYD has both the manufacturing capabilities and technological prowess to compete with $Tesla(TSLA.US$. More companies like $Xiaomi Corp.(XIACF.US$ are trying to get into the EV market too, specifically autonomous driving.
It will be an interesting 2024 to see how China EVs compete with Tesla. Most of them are releasing ~3 new models while Tesla is releasing 2.
Another area of concern for EV makers would be their profit margin. Tesla is squeezing its competitors dry as it continues to cut price. For others, it is either to reduce profit margin or lose market share. Oftentimes, they will do the former unless it results in them making a loss. This is the hidden strength of Tesla which many do not know.
There are many “Tesla-Killers” but so far, all of them have been proven wrong and surrendered. I think BYD and some Chinese EVs will give Tesla a run for their money.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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