MenuTesla was once the undisputed global leader in electric vehicles. In the earlier part of this decade, Tesla’s Tesla0.0% stock was a certain winner, reaching an all-time high on November 4, 2021. Those days are now distant as the company grapples with mounting competition from international and Chinese rivals, with companies such as BYD dominating
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Will China’s Electric Vehicle Dominance End?
Amidst Hangzhou’s modern skyline are scores of weed-infested lots filled with the remains of thousands of abandoned electric vehicles (EVs). China’s EV revolution soared to prominence, generating envy and fear from Western competitors. Like the Greek mythological hero Icarus, however, it may have flown too close to the sun. As China now confronts intense deflationary