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Why Tesla And Elon Musk Face | Gordon Ramsay’S Worst Chicken - At Up-Tube.com

Why Tesla And Elon Musk Face Gordon Ramsay’s WORST Chicken 1 year ago   06:55

Tesla recently broke ground on Gigafactory 3 in Shanghai and has grand ambitions in China but it faces serious competition there from a mix of Chinese and foreign automakers already manufacturing electric vehicles there, for example: BYD, BAIC Group, SAIC and Nio; and BMW, Mercedes, Audi and Toyota.

Tesla needs China, the world's largest auto market, in order to succeed. Customer demand and government support for so-called "new energy vehicles" there is skyrocketing.

CEO Elon Musk recently warned that without manufacturing in China, Tesla won't be able to produce 10,000 Model 3 electric sedans per week (as the company has aimed to do for years) and won't be able to offer the eagerly awaited base model at a price of $35,000.

"Bottom line is we need the Shanghai factory to achieve that," Musk said on the company's 2018 fourth-quarter earnings call.

However, Tesla — like other U.S. automakers — faces considerable competition in China.

According to Michael Dunne, founder of automotive advisory firm ZoZoGo, "China produced half of global electric vehicles last year. The U.S. produced about twenty percent. China is clearly way out in front in terms of size, production and scale."

Electric vehicle makers that are already up and running there include:

- NIO, which went public in September 2018
- Warren Buffet-backed BYD
- A partner of Volkswagen and GM called SAIC Motor
- Geely Automotive Group which is the parent company of Volvo
- BAIC Group, and its subsidiary, Beijing Electric Vehicle Co.

A bevy of electric vehicle startups are on the rise in China too, including Byton and WM Motor Tech.

Chinese automakers have benefited from some $60 billion worth of subsidies and incentives since 2012, designed to make new energy vehicles affordable for Chinese drivers, according to ZoZoGo.

But as Musk recently bemoaned, Tesla hasn't been able to cash in on those subsidies and tax incentives. As a result, a Model S that would cost around $80,000 in the U.S. today would cost around $140,000 in China after taxes, for example.

Tesla's vehicles will probably remain very costly in China until the company begins manufacturing at its planned factory there in Shanghai.

Even though Tesla broke ground on its Gigafactory 3 in Shanghai, the company has yet to publish an 8-K filing with the SEC showing that it has secured funding, or secured a material partnership, to build it out.
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Tesla Needs China, But Faces Stiff Competition

Comments 554 Comments

Does Tesla have a chance in China with so much local competition? Let us know what you think below:
Marshall Kinnaird
Your map of China is not correct.
Rock Giggle
NIO has less than half the price of Tesla, let me ask you this question since you seem so confident on your brand. Does NIO have the same level of technology installed in your vehicles the same as Tesla? Basically you're just a cheap daily driven car brand that is targeted at a lower segment of consumers but Tesla is aimed at high-end quality consumers who are not afraid to spend money. Comparing your brand to Tesla is like comparing Apples with Oranges. Is your car brand's safety rating also the same as Tesla? Your prices are also subsidized by the Chinese government so basically it won't promote fair competition from any point of view. Also is the driving range of your vehicle as long as Tesla's?
Jethro Jackson
OK, Tesla will weep and collapse because of the coronavirus. So let us rely on alternative means of transport...
Unnati Srivastava
Wishing i could work with company
Ali Mohammad Yousuf
CNBC is negatively biased toward Tesla & Elon Musk. CNBC acts like a boomer.
People love best quality.. but also local and cheap.. so a huge variety will sell including Tesla 😎
Cinnamon Girl
well.. Elon, how's that workin for ya
Caple jones Gozon
Don’t teach me how to abused power.
Caple jones Gozon
It’s useless to use china for finding mistakes, have mercy Elon musk. What if i will do to you soon, what have you done on China.
Caple jones Gozon
There is a changes about mysteries and sacrifices.
billy Red
They will steal his technology make them cheaper and bye bye Tesla, why did he need the China market that's greed and bust there's a whole other world out there another 6 billion in fact.
Jacques 9190
As long as EV wins... the ‘mosh pit’ of China matters not! https://up-tube.com/upvideo/stOfrvGyQGR
Is Elon Musk sick with Coronavirus?
Dan Kim
The end of natural gas vehicle is coming.
William Bradshaw
Funny how that guy at the end said that China will be forgiving on price but not on quality. Chinese products are synonymous with low priced low quality.
Teeven Polk
Aymara Fan
Things are looking Corona now.
This video hasn't aged well
Lol, in a year the Chinese will have stolen all Tesla's technology and be making knockoffs at half the price. That is the Chinese way, they are not very creative so they have to steal the West's ideas and make poor copies and sell them back to us. Good luck doing business with communist trash
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Gordon Ramsay’s WORST Chicken Why Tesla And Elon Musk Face 1 year ago   11:51

From chicken wrapped shrimp to chicken being cooked after being dropped onto the floor.

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