22:45:35 EDT Fri 17 May 2024
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Tesla Inc CDRs (CAD Hedged)
Symbol TSLA
Shares Issued 14,950,000
Close 2023-11-10 C$ 19.93
Market Cap C$ 297,953,500
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Post/WP say Tesla boss might rethink his view of BYD

2023-11-13 09:10 ET - In the News

The Financial Post reports in its Saturday edition that after gaining a dominant hold on the raw materials and batteries necessary for electric vehicles, China is now making a play for the one thing it does not have: cars on roads in the West. A Washington Post item says that Chinese carmakers have been pushing into new markets, particularly in Europe, building showrooms and inking deals with existing dealers everywhere from Paris to Scandinavia. In Europe, which aims to ban the sale of traditional petrol cars by 2035, the Chinese EVs are a solution and problem all at once. The Chinese brands are poised to offer something that Europe's famed automakers cannot yet match -- low-cost EVs for the masses. Chinese imports also pose a clear threat to one of Europe's biggest industries, which underestimated the speed of the electric revolution. Brussels, amid an investigation into potential subsidies, is weighing whether to raise tariffs on Chinese vehicles. In the Copenhagen showroom of BYD, where three models sit under rectangular lights, with the cheapest -- named the Dolphin (starting at $33,000 (U.S.) in Denmark) -- closest to the entrance. Telsa founder Elon Musk once scoffed about the idea of BYD as a competitor.

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