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Elon Musk warns without US tariffs (Electric) Car Market in US bout to turn to Temu


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 4 months ago '20        #1
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Ninjahood  topics gone triple plat - Number 1 spot x9
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icon Elon Musk warns without US tariffs (Electric) Car Market in US bout to turn to Temu
 

 
SAN FRANCISCO (Reuters) — Tesla CEO Elon Musk said on Wednesday that Chinese automakers will "demolish" global rivals without trade barriers, underscoring the heat the U.S. electric vehicle market leader faces from the likes of BYD, who are racing to expand worldwide.

Musk's comments come after Warren Buffett-backed BYD - with its cheaper models and a more varied lineup -overtook Tesla as the world's top-selling EV company last quarter, despite the U.S. automaker's deep price cuts through 2023.

FILE PHOTO: Elon Musk, Chief Executive Officer of SpaceX and Tesla and owner of X, formerly known as Twitter, attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition centre in Paris, France, June 16, 2023. REUTERS/Gonzalo Fuentes/File Photo
Tesla CEO Elon Musk. REUTERS/Gonzalo Fuentes (REUTERS / Reuters)
Chinese car companies were the "most competitive" and "will have significant success outside of China, depending on what kind of tariffs or trade barriers are established," Musk said on a post-earnings call with analysts on Wednesday.

"If there are no trade barriers established, they will pretty much demolish most other car companies in the world," he said. "They're extremely good."

Asked about Musk's comments, the Chinese foreign ministry said at a regular briefing on Thursday that it was unaware of the reports but advocated "maintaining a fair, just and open business environment".

Musk has reason to be concerned.

He sparked a price war last year to woo consumers hit with high borrowing costs, in turn squeezing Tesla's margins and worrying investors. On Wednesday, Musk warned Tesla was reaching "the natural limit of cost down" with its existing lineup.

Tesla plans to start producing a cheaper, ma$s market compact crossover codenamed "Redwood" mid-2025 to compete with inexpensive rivals, Reuters reported on Tuesday. Musk on Wednesday confirmed that Tesla expects to start production of its next-generation EV at its Texas factory in the second half of 2025.

But Chinese EV makers, adept at keeping costs in check with a stable supply chain, are moving fast. With rising competition and excess capacity in China, many are now working on rapidly expanding their foreign footprint after years of state subsidies helped boost domestic sales.

"The completeness and resilience of China's multi-decade state-directed battery materials processing infrastructure build out is biting hard," said Ross Gregory, a partner at Melbourne-based consultant New Electric Partners.


China's SAIC Motor, for instance, has been placing orders for more vehicle vessels in its fleet to counter shipping costs as it looks to boost sales overseas.

Still, brand awareness of Chinese car companies in the United States is extremely low and their reliability, durability and safety is middling, so they have a long way to go to win U.S. market share, said Spencer Imel, a partner at consumer insights firm Lansgton.

"They enjoy high demand in China with innovation such as in-car technology and battery swapping," Imel said. "That, we believe, will be an important ingredient and a differentiator in their future growth overseas."

Musk's comments also come as the U.S. presidential election picks up pace. President Joe Biden has said China was determined to dominate the EV market and that he "won't let that happen".


Former President Donald Trump, who is the frontrunner for the Republican nomination for president this year, has signaled that he would double down on stronger tariffs if elected, calling for a universal 10% tariff on all imports into the U.S. and revoking China's most-favored-nation trading status.

Musk on Wednesday said there was "no obvious opportunity" to partner with Chinese rivals but Tesla was open to giving them access to its charging network and licensing other technologies such as self-driving.

Europe has also taken a protectionist stance towards Chinese EV makers. Last year, the European Commission launched an investigation into whether to impose punitive tariffs to protect EU producers against cheaper Chinese EV imports it says are benefiting from state subsidies.

More than tariffs, the U.S. and Europe need policies that will give their automakers the time to build a diversified supply chain, said New Electric's Gregory.

(Reporting by Abhirup Roy in San Francisco; Additional reporting by Akash Sriram in Bengaluru and Eduardo Baptista in Beijing; Editing by Stephen Coates and Jamie Freed)

 https://finance.yahoo.com .. 025250371.html

Da tone of this article is so existential feeling for Tesla. It's almost like they went to China just to get copied and bootlegged off their technology and now they're about to get fidget spinnered out da paint...

It's a story as old as time though you outsource your manufacturing overseas. They bootleg your technology and they turn around and compete against you at a cheaper rate....

This will not affect a legacy car brands already here because charging infrastructure is woefully lacking and there is zero brand awareness with these Chinese interlopers.... However, that depends on if we keep our preference on internal combustion engines and not get bullied into sidelining them by certain left-leaning, political parties threatening to outlaw their sales.

YT


Last edited by Ninjahood; 01-28-2024 at 04:41 PM..
+7   



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48 comments

 4 months ago '20        #2
Ninjahood  topics gone triple plat - Number 1 spot x9 OP
Props total: 28060 28 K  Slaps total: 4236 4 K
🔗


 4 months ago '04        #3
deziking  topics gone triple plat - Number 1 spot x13
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we dont want your piece of sh1t cars elawn. fu#k up outta here. Hybrid toyota gang baby.
+39   

 4 months ago '15        #4
Honzou 
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Never believe a thing this weirdo has to say
He’s all about his pockets
+35   

 4 months ago '21        #5
Tlatoani  topics gone triple plat - Number 1 spot x1
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Tesla is trash
+15   

 4 months ago '21        #6
99LB 
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So do we want capitalism or naw?

The best competitors supposed to win without government interference right?

Sounds like Tesla is producing inferior product and the Chinese are pushing that fish scale at rerock prices
+46   

Top 10 most slapped recently  4 months ago '13        #7
3nl1ght3ned  topics gone triple plat - Number 1 spot x2
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 deziking said 🔗
we dont want your piece of sh1t cars elawn. fu#k up outta here. Hybrid toyota gang baby.
emoji
+4   

 4 months ago '08        #8
JR_Tha_Jenius 
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Elon knows NIO, LI Auto, etc are coming
+5   

 4 months ago '21        #9
Tlatoani  topics gone triple plat - Number 1 spot x1
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 99LB said 🔗
So do we want capitalism or naw?

The best competitors supposed to win without government interference right?

Sounds like Tesla is producing inferior product and the Chinese are pushing that fish scale at rerock prices
Elon already finessed the feds getting those SpaceX contracts.

Bezos is suing and has already exposed Elon had friends in the Fed that overlooked multiple flaws in the proposals he made.

He's propped up by the government while complaining about the Chinese government
emoji
+17   

 4 months ago '06        #10
Kundalini  topics gone triple plat - Number 1 spot x3
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Temu isn't even mentioned.

Tesla by a mile.

 4 months ago '06        #11
imthatinfamous  topics gone triple plat - Number 1 spot x1
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Super rich begging for more handouts?
+6   

 4 months ago '10        #12
GBREEZE  topics gone triple plat - Number 1 spot x7
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fu#k an electric car!
+5   

 4 months ago '15        #13
jayande 
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 deziking said 🔗
we dont want your piece of sh1t cars elawn. fu#k up outta here. Hybrid toyota gang baby.
Which model do you have?

 4 months ago '06        #14
OJ's_sword 
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Thought he was all about Freedom? Let people have the freedom to choose what's best for them then!
+6   

 4 months ago '04        #15
absolut 
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 Tlatoani said 🔗
Elon already finessed the feds getting those SpaceX contracts.

Bezos is suing and has already exposed Elon had friends in the Fed that overlooked multiple flaws in the proposals he made.

He's propped up by the government while complaining about the Chinese government
emoji
this ..he is already getting subsidies now he wants tariffs on foreign competition foh ..,.this is not good for consumers ...

capitalism makes everything short sided for greed / money ...there is gonna be a lithium shortage eventually as demand for EV grows which will skyrocket cost...

it's best for the country to invest in fuel cell tech ...
+6   

 4 months ago '06        #16
PremiumBreeze 
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 JR_Tha_Jenius said 🔗
Elon knows NIO, LI Auto, etc are coming
You sound like youíre a Chinese electric shareholder hoping for those share prices to come back to Covid levels. I get it, but if you see the trash BYD is already putting out for tr@nsit buses in the US, and the issues with Chinese made rail vehicles, you donít want the Chinese automakers to take out the competition.
+2   

 4 months ago '06        #17
damn_ryght 
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Aint no way im buying a chinese car period
+2   

 4 months ago '15        #18
Spawn  topics gone triple plat - Number 1 spot x3
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If China coming with the Bootleg tesla, sign me up.


I can't pa$s up on a quality bargain, be out here whipping a LiuLiu
+6   

 4 months ago '21        #19
kevm3 
Props total: 3199 3 K  Slaps total: 426 426
Americans in here cheering on a communist dictatorship continuing to take over the US market.

You'll have fun in your soon to come communist paradise.
-6   

 4 months ago '24        #20
FalseProphet 
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 Tlatoani said 🔗
Elon already finessed the feds getting those SpaceX contracts.

Bezos is suing and has already exposed Elon had friends in the Fed that overlooked multiple flaws in the proposals he made.

He's propped up by the government while complaining about the Chinese government
emoji
Bezos can sue all he wants but space x got contracts because they actually proven themselves. they are launching rockets every week from Kennedy space center alone. Their closest competition is United Space Alliance and Russia and they both can't compete with space x. Blue origins had a huge head start over Space x and still hasn't produced a reliable rockets. It got to the point that Blue origin is trying to buy United space alliance from Lockeed Matin and Boeing. I usually can't stand Elon, but I can't hate on what he is bringing to the commercial space industry.
+1   

 4 months ago '21        #21
Tlatoani  topics gone triple plat - Number 1 spot x1
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 FalseProphet said 🔗
Bezos can sue all he wants but space x got contracts because they actually proven themselves. they are launching rockets every week from Kennedy space center alone. Their closest competition is United Space Alliance and Russia and they both can't compete with space x. Blue origins had a huge head start over Space x and still hasn't produced a reliable rockets. It got to the point that Blue origin is trying to buy United space alliance from Lockeed Matin and Boeing. I usually can't stand Elon, but I can't hate on what he is bringing to the commercial space industry.
I spent a couple hours watching a breakdown of the court documents.

You should do the same or just pull them up and read them yourself.

You've said a lot but didn't address anything that's been exposed in court.

 4 months ago '23        #22
Abra 
Props total: 872 872  Slaps total: 238 238
 kevm3 said 🔗
Americans in here cheering on a communist dictatorship continuing to take over the US market.

You'll have fun in your soon to come communist paradise.
Hilarious to think your vote actually matters.
+1   

 4 months ago '05        #23
240sx 
Props total: 13804 13 K  Slaps total: 2250 2 K
Think of an apartment complex with 500 units
That’s gonna be 500 chargers for one apartment complex ..

How many chargers are gonna be efficient 1000,000.00 charging stations city wide …GTFOH …

sh1t don’t add up
+8   

 4 months ago '17        #24
dubsax  topics gone triple plat - Number 1 spot x2
Props total: 77471 77 K  Slaps total: 6537 6 K
he keeps begging


if it werent for obama and his ev subsidies tesla would have went bankrupt long ago
+5   

 4 months ago '11        #25
UrbanGAAWD  topics gone triple plat - Number 1 spot x5
Props total: 5181 5 K  Slaps total: 717 717
That’s the secret that Elon has mastered. He’s so pro America so half the country(republicans, libertarians etc) will love him. He gets govt contracts…remember the govt propped up Tesla with money over 10 years ago and he secure govt contracts for spacex

He’s nervous for competition, if you look at the Tesla vs other electric vehicles, he gets beat every time. Only thing Tesla has is super charging network but others are slowly coming up. If I had a 20k electric car that look good, I would take it in a heart beat. You think I’m gonna get a 100k cyber truck that doesn’t get 300 miles of REAL WORLD range that doesn’t have aftermarket for parts so if you fu#k it up, that’s it buddy

say something...

Sign me up
 
 

yesterday...


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