Posted 1/30/2024, 6:00:00 PM
Tesla Slashes Prices on EVs in Europe and China to Stay Competitive with Low-Cost Rivals
- Tesla cuts prices on Model Y and Model 3 EVs in Europe and China to compete with low-cost EVs from automakers like BYD
- Rise of advanced, competitively priced Chinese EVs challenges Tesla's market position
- BYD overtakes Tesla as world’s biggest EV maker as Volkswagen also grabs market share
- Tesla faces supply chain issues and rising production costs, influencing price cuts
- As more automakers offer competitive EVs, Tesla must keep prices low to maintain market share