Elon Musk’s factory in China saved his company and made him ultrarich. Now, it may backfire.
A Tesla driver’s family had sought damages for the 2018 crash, which happened while the carmaker’s driver-assistance software was in use.
The automaker said it would delay new battery-powered models and shift its focus to hybrid cars, sales of which are rising fast.
The carmaker’s disappointing results point to slowing demand and a “sharp deterioration in growth” that extends beyond Elon Musk’s company.
Sales of the company’s electric cars dropped in the first three months of the year, even as other automakers sold more battery-powered vehicles.
The latest proposal comes from Luca de Meo, the C.E.O. of Renault Group, who is pushing for an Airbus-inspired alliance that would help European automakers fend off competition from cheaper Chinese-made electric vehicles.
A tax on ship emissions could have an impact on almost everything we buy
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.
Tesla and China built a symbiotic relationship, with credits, workers and parts that made Mr. Musk ultrarich. Now, his reliance on the country may give Beijing leverage.