“They work the hardest and the smartest,” Musk said when asked about the Chinese automakers, which he sees as the biggest competition in the world. “I think that second to Tesla will probably be some Chinese company,” he added.
The American electric car maker produces the Model Y and Model 3 cars at its plant in Shanghai. In China, it lowered the prices of its cars at the beginning of the year and before that last October. Other car manufacturers have also announced price reductions to gain a better foothold in the world’s largest electric car market. Local players included Xpeng and Aito, which is backed by Huawei Technologies.
BYD is China’s largest electric car manufacturer. It surpassed Tesla in sales last year, if hybrids are taken into account in addition to purely electric cars.
Ford is looking for an investor for the Saarlouis factory, the Chinese BYD is also considered
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Tesla produced more than 710,000 electric cars in China last year despite Beijing’s strict anti-pandemic policies, accounting for about 52 percent of its global output. According to Musk, 2022 was difficult due to shutdowns at the Shanghai plant, higher borrowing costs and logistical problems.
If there are no unexpected disruptions, the automaker’s global production could approach two million cars this year, according to Musk. Analyst firm BloombergNEF expects Tesla’s sales to grow by up to 40 percent in 2023, and its Model Y to become the best-selling electric car in the world.
Tesla’s net profit in the fourth quarter increased by 59 percent year-on-year to a record 3.69 billion USD (80.9 billion CZK). Revenue rose 37 percent to $24.3 billion. Sales were supported by record vehicle deliveries. Tesla previously said it delivered a record 405,278 vehicles for the full year.
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