growth story in the world’s most important EV market has officially stalled for the year.
While Giga Shanghai is still churning out vehicles, the local appetite for them seems to have hit a ceiling, and the company is now facing a mathematical impossibility if it wants to avoid a year-over-year decline in 2025.
competitors like BYD and Xiaomi posting record growth, a contraction for Tesla is concerning.
We’ve been saying this for a while: the Model 3 and Model Y are incredible vehicles, but they are saturation products in a market flooded with fresh, competitive, and cheaper alternatives.