Tesla Is Facing A New Threat, China Rolls Out Cheaper Electric Car Models
With more companies jumping into the electric car industry, it is not surprising that Tesla has numerous competitions. This time, however, Chinese electric car manufacturers are going to jump into the fray. Given how affordable these vehicles can be, Tesla might have a major threat on their hands.
Electric Car Industry
Tesla is no stranger to an ever changing climate in its industry. Just recently, there were rumors that Faraday Future could threaten Elon Musk's company after they unveiled their latest creation FF91 during the CES 2017. However, the company's biggest threat could be the locally manufactured electric vehicles in China.
As reported by Reuters, China is the biggest market for electric vehicles. Perhaps owing to Beijing's initiative to promote a greener environment, there is a booming industry for hybrid cars in the country. By 2020, the country would require about 5 million electric vehicles on its roads which could be a good market for Tesla. While these domestic cars are for short-range trips, they are much cheaper than the cars that are under development by Tesla which means that this market may not be too viable for the company. Although these EVs lack the luxurious feel, they are serviceable and economical.
Best of all, these vehicles are readily available to the public since they are not sold at a premium. Government subsidies also keep the costs low, making the finished products more affordable.
Tesla Vs Chinese Car Manufacturers
Given the economies of scale and the government incentives, electric vehicles only cost about $8,000 in China, a far cry from more expensive car models in the U.S. Tesla may be known for quality but these new breed of cars from China are so affordable that it would be easy to buy one. For now, Chinese companies are moving on their home turf but GAC Motor and BYD are interested in a global expansion.
GAC Motor is planning to enter the U.S. market by 2019 while BYD already established a factory in the United States. BYD has already started its global expansion and it is already selling electric buses at South America, Africa, and Europe. Hence, Tesla should be on the lookout for these Chinese competitors in the industry.
Faraday Future Is No Threat For Tesla, Here's Why
Faraday Future just launched the FF91. Some believe that it will pose a huge threat to Tesla which should make Elon Musk worry but it seems that Faraday has other problems.
Tesla Motors' Software Could Become Even Better Under Its New Autopilot Software VP
Tesla Motors is already the leading company in the hybrid car industry. With the introduction of its latest Autopilot Software VP from Apple, the company could even make its products better.
Android Nougat Wi-Fi Problems: How To Fix Google Nexus 5X, Nexus 6P Connection Issues
Google already rolled out an Android Nougat update for Nexus 6P and there is also an unofficial update for Nexus 5. Wi-Fi connection problems abound for this Android OS and here’s how to fix that.
Faraday Future To Build 10,000 Cars Per Year In New Hanford Factory
Faraday Future has leased a former tire plant in Hanford, California.
Tesla Model 3 Delivery Started, 30 Telsa Employees First To Get Hands On
Tesla Model 3 deliveries started on July 28 and 30 employees from Telso got the car keys.
MORE IN ITECHPOST
How to Maximize Instagram's Features
Instagram is one of the most versatile marketing platforms in the world. How can someone make sure they are maximizing all of its features?
How Do Personal Emergency Response Systems Work?
Personal emergency response systems, known as PERS for short, are systems that help people to raise the alarm and get immediate help when a medical or personal emergency occurs. They are ideal for older people and anyone with a mobility issue or an injury or illness that can cause falls.
Eight Must-Have Tools to Keep Your Car Out of Garage
We all dread taking our car to a garage for repairs. We might just want to avoid the inconvenience of being off the road or maybe the costs associated, which can even lead to knock-on effects on things like our holiday plans.
6 Hacks for Students to Choose a Laptop While on a Budget
The modern world tries to drown us in the sea of choices. One can’t simply buy a laptop - there are hundreds of laptops around and sometimes our budget becomes the only real limitation we can rely on. But how to choose other parameters to get the best laptop possible?