Tesla looks for answers after feeling some growing pains in China

Apr. 20, 2021 8:30 AM ETTesla, Inc. (TSLA)TSLA, GELYF, NIO, XPEVBy: Clark Schultz, SA News Editor292 Comments
  • Tesla (NASDAQ:TSLA) is working on vehicles tailored to Chinese consumers amid some rising complaints in the nation about the company's electric vehicles.
  • Tesla exec Grace Tao stated during the Shanghai Auto Show this week that Tesla that the new vehicles developed for China could also be sold in other global markets.
  • That auto show was also the site of a protest against Tesla by a woman claiming her vehicle had faulty brakes. The incident ending up being viewed 220M times on the Weibo social media platform and inspiring a popular hashtag that wasn't kind to Tesla.
  • In addition, Chinese brands are becoming increasingly popular with younger customers who are more likely to buy domestic models, reports FT. Geely (OTCPK:GELYF), Nio (NYSE:NIO) and XPeng (NYSE:XPEV) are said to be using technology to attract interest among younger buyers.
  • Perhaps just as important for investors, Tesla has also seen more scrutiny this year from the Chinese government as its sales in the region grow rapidly.
  • TSLA -0.58% premarket to $710.50 following a decline yesterday amid concerns over the crash of a Model S in Texas.

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