How China saved Elon Musk and could break him

News Snapshot:

China helped make Tesla the most valuable car company in the world. But Tesla’s success there also forced home-grown brands to innovate. China is now churning out cheap but well-made electric cars, as Chinese President Xi Jinping aims to transform the country into an “automotive power”. Chinese automakers such as BYD and SAIC are pushing into Europe, threatening established carmakers such as Volkswagen, Renault and Stellantis. Detroit is also scrambling to keep pace. “There’s before Tesla and after Tesla,” says Michael Dunne, an auto consultant and a former General Motors executive in Asia, about the company’s effect on Chinese industry....