The Langston Co. reposted this
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Musk yesterday: "If there are no trade barriers established, they will pretty much demolish most other car companies in the world." That seems a bit rash. But I also think we see Amara's law playing out in the EV markets: we overestimate short-term impacts and underestimate long-term impact. (...) brand awareness of Chinese car companies in the United States is extremely low and their reliability, durability and safety is middling, so they have a long way to go to win U.S. market share, said Spencer Imel, a partner at consumer insights firm The Langston Co. "They enjoy high demand in China with innovation such as in-car technology and battery swapping," Imel said. "That, we believe, will be an important ingredient and a differentiator in their future growth overseas." Excellent reporting by Abhirup Roy.
Tesla CEO Elon Musk said on Wednesday Chinese automakers will "demolish" global rivals without trade barriers, underscoring the heat the U.S. electric vehicle market leader faces from the likes of BYD, who are racing to expand worldwide. Musk's comments come after Warren Buffett-backed BYD - with its cheaper models and a more varied lineup - overtook Tesla as the world's top-selling EV company last quarter, despite Tesla's deep price cuts through 2023.