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Tesla CDR (CAD Hedged)
Symbol TSLA
Shares Issued 22,750,000
Close 2025-04-04 C$ 21.67
Market Cap C$ 492,992,500
Recent Sedar+ Documents

Globe says the future of EVs is China's BYD, not Tesla

2025-04-07 07:24 ET - In the News

The Globe and Mail reports in its Saturday edition that Norway has no tariffs on Chinese-made electric vehicles, and look what is happening. The Globe's Eric Reguly writes that five years ago, Chinese cars had no Norwegian market share; today, they are at 10 per cent -- and rising. That rise comes at Tesla's expense. China is the world's largest maker and exporter of EVs, with sales up 40 per cent, to 11 million vehicles, in 2024. Exports of EVs and plug-in hybrids grew 24 per cent. The era of the Chinese EV is arriving, and all the Western automakers will suffer, as if they needed more bad news. Europe is selling almost three million fewer cars each year. European car companies' sales in China, once their greatest growth market, are falling fast as Chinese brands go from cheapo rattletraps to high-performance machines whose EV versions can compete in quality with BMW, Mercedes and Volkswagen at far lower prices. BYD is China's top maker of battery-powered cars and its Hong Kong-listed shares are up 90 per cent in the past year. Sales in 2024 grew 29 per cent, to $107-billion (U.S.), easily surpassing Tesla's $98-billion (U.S.). BYD's ultrafast charger can give its EVs 400 kilometres of range in five minutes.

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