DETROIT — Elon Musk will confront a critical challenge during Tesla's Investor Day on March 1: Convincing investors that even though rivals are catching up, the electric-vehicle pioneer can make another leap forward to widen its lead. Tesla Inc was the No. 1 EV maker worldwide in 2022, but China's BYD and others are closing the gap fast, according to...
Tesla CEO Elon Musk arrives on the red carpet for the automobile awards 'Das Goldene Lenkrad' given by a German newspaper in Berlin, Germany on Nov 12, 2019.DETROIT — Elon Musk will confront a critical challenge during Tesla's Investor Day on March 1: Convincing investors that even though rivals are catching up, the electric-vehicle pioneer can make another leap forward to widen its lead.
The most significant challenges to Tesla are coming from established automakers and a group of Chinese EV manufacturers. In China, Tesla has had to cut prices on its best-selling models under growing pressure from domestic Chinese manufacturers including BYD, Geely Automobile's Zeekr brand and Nio. Tesla's then-novel vertically integrated battery and vehicle production machine helped achieve higher profit margins than most established automakers — even as bigger rivals lost money on their EVs.
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