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The $10,000 BYD Seagull EV is scaring the U.S. auto industry

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market, the company’s recent release of a city EV with a price tag under $10,000 has some worried for when it and other low-cost companies do. BYD launched its Seagull, a small hatchback EV with a price tag starting at 69,800 yuan (~$9,773), at the Shanghai Auto Show last year. auto market anytime soon , some U.S.

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Tesla to boost spending for Giga Texas and Berlin ramp

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. “Our capital expenditures are typically difficult to project beyond the short-term given the number and breadth of our core projects at any given time, and may further be impacted by uncertainties in future global market conditions,” Tesla said in the filing. Today, Model 3 is one of the 10 best selling cars globally.

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Reuters: Tesla Has Ditched Its Affordable EV Efforts in Favor of Robotaxis

The Truth About Cars

CEO Elon Musk has been beating the affordable EV drum for a while, telling investors in January that the car would enter production in Texas as soon as late 2025. The car, which was projected to start in the mid-$20,000 range, would have helped Tesla compete against the increasingly fierce Chinese auto industry.

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Tesla Giga Shanghai aims for 500k annual output for 2021: report

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Tesla China’s Global Vice President Grace Tao recently visited the China EV100 to discuss key issues about developing the auto market. The company surpassed its 2020 guidance last quarter. Supply chain challenges have hit most, if not all, automakers and tech companies hard. expansion project.

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Volkswagen faces mounting pressure from Tesla and BYD

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During the pandemic, Volkswagen fell behind in the Chinese auto market as companies like BYD, Nio, and Tesla took over, with the competition nearly doubling the market’s EV and hybrid offerings (via Bloomberg ). Our companies are mainly generating their profits abroad, helping to keep jobs in Germany.

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Tesla analysts still confident in TSLA despite Giga Shanghai shutdown and supply chain challenges

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Tesla analysts from Roth Capital Partners and Deutsche Bank are confident in TSLA stock and the company’s fundamentals. The company produced 305,000 cars in the first quarter. Deutsche Bank analyst Emmanuel Rosner argued that the company still performed well considering its challenges last quarter.

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Elon Musk: Chip shortage is a “short term” problem that will likely be over next year

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Musk also noted that he believes the global chip shortage issue is a “short term” problem and not one that would be true for the long term. During the Q2 2021 earnings call , Musk revealed that Tesla was able to respond to the global semiconductor shortage by rewriting its vehicles’ software and using alternative chips. .