Tesla faces increasing competition from major automakers as they ramp up EV production, including China’s BYD.
There have been complaints about an aging lineup of vehicles from Tesla and also a significant backlash against CEO Elon Musk and his affiliation with the Trump administration in the U.S. In Europe, Musk’s endorsement of Germany’s far-right Alternative for Germany party in last month’s national election drew broad condemnation.
Tesla faces increasing competition from major automakers as they ramp up EV production, including China’s BYD. On Tuesday, BYD reported a record 777.1 billion yuan ($107 billion) in revenue for 2024 as sales of its electric and hybrid vehicles jumped 40%.
