Elon Musk admits Chinese EV competition is “extremely good”

News Snapshot:

In a surprising turn of events, Elon Musk, Tesla’s CEO and even more famously known for his takeover of Twitter, publicly acknowledged the prowess of Chinese electric vehicle (EV) manufacturers. Speaking during Tesla’s recent earnings call, Musk went on to describe them to be the "most competitive car companies in the world." These comments come at a time when Chinese automakers are aggressively expanding into global markets. Despite Tesla facing fierce competition from the likes of BYD, Nio, and Xpeng within China, Musk expressed confidence in their potential success outside of China. “Frankly, I think, if there are no trade...