Recently, the price of Tesla Electric has been continuously falling due to which a big fall has been recorded in Tesla stocks. Because of the current situation, China’s other top car companies like BYD, SAIC, and NIO are forcing Chinese stock traders and car buyers to buy China’s cheapest electric cars and expand car exports in the future. Because China’s Electric Car companies will almost be able to capture the huge market of Asia which is very bad news for Elon Musk and Tesla. Because of all these, it now seems that Tesla’s Stock Price may fall even further in the future, which is a big threat to the net worth of Tesla and Elon Musk and to $TSLA stakeholders.
Why Tesla Stocks Fall in Chinese Market, Will Chinese Electric Vehicle Companies Take Over Tesla in Asia?
However, Tesla’s biggest manufacturing takes place in China, but if China produces its own Electric Vehicle cars, it will not give as many offers to Tesla as Chinese companies like BYD, SAIC, and NIO. Now it seems that Chinese EV Car companies can disrupt the manufacturing of Electric Vehicles in Vietnam, the Philippines, Japan, South Korea, and other South China Sea countries. And with this, in the future, the threat of cheap manufacturing of Tesla in other parts of Asia may be reduced and Tesla’s place among the people of Asia will be taken by Chinese EV cars like BYD, SAIC, and NIO. Due to all this, Tesla stock has still falling continuously for the last 6 months due to which the net worth of Elon Musk has also fallen drastically. Last year, by the end of 2023, the Tesla stock price was almost at an all-time high of $260 but now as it is 2024 and Chinese Electric Companies have started selling worldwide to car companies like BYD, NIO, and SAIC, Tesla stock is continuously falling.