May 26, 2024

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Tesla’s Chinese Rivals Set New Records

Tesla's Chinese Rivals Set New Records

Tesla’s competition in the electric vehicle market has been heating up over the past two years as more EV manufacturers ramp up production and deliveries.

Elon Musk’s Austin, Texas-based company has seen its share of the EV market shrink from about 79% in 2020 to 75.8% in June 2022 to about 65% today as rival automakers continue to ramp up their factories.

Tesla  (TSLA) – Get Free Report still has a lot of good news to report through the first three quarters of 2022, as it is well on its way to delivering 1 million EVs with 908,000 delivered in the year through Sept. 30 after delivering 343,000 in the third quarter. The company also rolled out its newest EV on Dec. 1 with the delivery of its Semi Trucks.