Tesla has been slow to refresh its aging models while high interest rates have sapped consumer appetite for big-ticket items.
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Author: WionDrive News Desk
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Tesla’s Model 3 starts at 245,900 yuan in China while the Xiaomi SU7 is 30,000 yuan cheaper than it.
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Toyota’s sales in China tumbled 36% in February as the week-long Lunar New Year holiday took place during the month.
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The latest EPA rule cuts vehicle emissions by 49% by 2032 compared with 56% under the initial proposal.
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BYD has stepped into the global spotlight since it dethroned Tesla to become the leader in the EV space.
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Analysts have estimated that the Xiaomi SU7 will be priced at USD 27,668.26 to USD 41,502.39 or above.
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More than half of the investment will be allocated for new R&D infrastructure and EV assembly lines.
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VinFast enters the market at a time when Chinese EV brands such as BYD and Great Wall Motor are selling strongly in Thailand.
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Both Nissan and Renault will launch a five-seater and a seven-seater car each in India with plans to export them.
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The cons of such rigorous discounting is that BYD is suffering in terms of its domestic profit margins.