The entrepreneur predicted that Chinese electric car companies will achieve significant success in their country and lead the global market. Musk warned that unless tariffs and other trade barriers are put in place, they will take over the entire global market.
“Chinese car companies are the most competitive enterprises in the world,” Elon Musk emphasized during the Tesla conference call on Wednesday, January 24.
CNBC journalists noted that the Chinese corporation BYD expanded sales to the markets of Europe, the Middle East and Southeast Asia in 2023. Many local startups, such as Nio and Xpeng, have entered the European market.
One year ago, January 25, 2023, Elon Musk statedthat Chinese automakers work harder and smarter than others. At the same time, the head of Tesla did not specifically name any local automaker.