KEY POINTS
New European car registrations of Tesla vehicles totaled 8,837 in July, down 40% year-on-year, according to the European Automobile Manufacturers Association, or ACEA.
BYD recorded 13,503 new registrations in July, up 225% annually.
Elon Musk’s automaker faces a number of challenges in Europe, including intense ongoing competition and reputational damage to the brand.
BYD cars are budget, but solid.
They’re covering up dozens of billions of debt, despite even more government subsidies… But the cars are solid
Yes the financial situation around electric cars in China is rumored to be very weird. Weird as in unsustainable.
We may see bankruptcies in the Chinese car manufacturing industry. The Chinese government has tried to turn it down, but AFAIK with little success.
The competition in China is insane, and they all use every possible financial trick in and off the book to survive.