https://insideevs.com/news/760633/tesla-xiaomi-su7-morgan-stanley/
Regular readers of this website will understand all too well how far ahead China is in the electric car race.
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https://insideevs.com/features/758402/shanghai-tesla-podcast-musk-byd/
I Drove China’s Advanced EVs. Now My Brain Is Broken
And I came back to the U.S. with the adamant belief that this country—its auto industry, its policymakers and even its consumers—need to have a long, hard discussion about the technological leadership we have ceded to that country.
believe me when I say that Western automakers need to be treating this as a five-alarm fire, and tariffs will not save them from what’s coming.
once you’ve driven a bunch of battery-swapping Nios and high-performance Zeekrs, well, your garden-variety Chevrolet Equinox EV elicits more of a “bless your heart” reaction than perhaps it once did.
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*And even Tesla, long the technology leader in American autos, seems to be getting outpaced. Take it from an unlikely source: one of Tesla’s biggest cheerleaders on Wall Street. In a pair of recent notes to investors, Morgan Stanley analysts led by Adam Jonas said that Tesla probably can’t catch up with EVs coming out of China. *
“China may have already won the EV battle,” the analysts said in a Tuesday report.
On Tesla’s most recent earnings call, he said something rather remarkable to hear from an auto executive: “The reality is that, in the future, most people are not going to buy cars.”
Perhaps Morgan Stanley analysts are right when they say that Xiaomi and everything it represents can explain why Tesla is “moving away from ‘car’ and going all-in on autonomy.”
Chinese players like BYD, Nio and Geely are expanding rapidly abroad too. BYD just launched its dirt-cheap Seagull hatchback in Europe for the equivalent of $22,000.
According to the analysts, China’s global expansion will deal a blow to Tesla’s car business.
It seems Elon has zero interest in competing in EVs. Likely he has moved on to robots & AI among other projects.
The Tesla EV is being supplanted as the icon to which all other EVs are compared. This development along with improved battery development have occurred at warp speed. My mind is blown away by how fast this has occurred.
It seems to me that the US automakers are in reality now a second tier EV manufacturer. That the US due to high wage factor and low EV technological development is unable to compete. Is US automaking capacity/ability a strategic need for the US industrial base?
Sure EV dominate vehicle sales in Norway. But there are only 6 million people in that country.
China is the dominates EV Marketspace with 5 million plus sales[2023]. US #2 1 million sales[2023] Its market share is 9 times the US market share.