Elon Musk’s electric car company reported a drop in sales in the first three months of the year, and its profit margin has been falling for months.
Musk ayudó a crear la industria china de vehículos eléctricos. Pero ahora se enfrenta a desafíos allí, así como al escrutinio en Occidente por su dependencia al país.
Mr. Musk helped create China’s electric vehicle industry. But he is now facing challenges there as well as scrutiny in the West over his reliance on the country.
Gross domestic product expanded 5.2 percent, as China worked to export more to make up for weak demand, high debt and a steep property contraction at home.
The Shanghai auto show, the largest in China since before the pandemic, had one theme: The dominance of electric vehicles in the world’s largest car market is here to stay.
Domestic companies are now selling more vehicles than their multinational rivals, which have failed to keep up with Chinese consumers’ demand for electric cars and S.U.V.s.
The facility will produce batteries the size of shipping containers to help electric utilities stabilize grids and use more renewable energy.
The world’s largest maker of electric cars struggled with production problems in China.
Production problems in China and Elon Musk’s pursuit of Twitter are leading investors to wonder whether the electric car company is worth as much as they thought.
The electric carmaker had to close an important factory in Shanghai because of China’s efforts to stamp out a coronavirus outbreak.