The News
Tesla’s European sales plummeted in February, with the automaker under pressure from fast-growing Chinese rivals and consumers wary of Elon Musk’s links to US President Donald Trump.
Overall sales in 28 European countries were 44% lower last month year-on-year, figures that coincided with the latest evidence of Chinese electric vehicle makers’ ambitions for dominance: Xiaomi Tuesday raised $5.5 billion in a share sale aimed at expanding its EV business, while industry behemoth BYD this week said its 2024 sales surpassed $100 billion for the first time.
BYD also unveiled technology that it claims can charge EV batteries in five minutes, with the announcements sending its share price skyrocketing.
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