Elon Musk has expressed his admiration for the strong presence of electric car companies from China and the competitive nature of electric car companies outside of China. During Tesla’s annual report, Musk discussed how these companies rely on trade barriers to stay in the fight. Without them, many of these companies would vanish.
BYD, in particular, has recently surpassed Tesla as the world’s top electric car company. Meanwhile, other Chinese companies are also expanding and competing fiercely with each other.
Musk also confirmed rumors that Tesla is preparing for its next electric car model and plans to begin production in the second half of 2025. This model is expected to be more affordable.
TLDR: Elon Musk praises the strength of electric car companies from China and their global competitiveness. BYD has overtaken Tesla as the top electric car company. Musk confirms Tesla’s plans to release a new, more affordable electric car model in late 2025.
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