Elon Musk speaks onstage throughout The New York Instances Dealbook Summit 2023 at Jazz at Lincoln Middle on November 29, 2023 in New York Metropolis.
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Elon Musk stated Chinese language electrical automakers will discover “significant” success exterior of China, at the same time as his agency Tesla faces intense competitors from these similar corporations.
“The Chinese car companies are the most competitive car companies in the world. So, I think they will have significant success outside of China depending on what kind of tariffs or trade barriers are established,” Musk stated on Tesla’s earnings name on Wednesday.
“Frankly, I think, if there are not trade barriers established, they will pretty much demolish most other companies in the world.”
It is not the primary time Musk has heaped reward on Chinese language EV makers. Final 12 months, the billionaire referred to as Chinese language EV corporations “the most competitive in the world” and stated they’re prone to be among the many world’s high auto corporations.
“If I were to guess … probably some company out of China is the most likely to be second to Tesla,” Musk stated.
Tesla’s personal shares slid in pre-market trade on Thursday, after the corporate posted earnings that missed expectations and warned of a slowdown in 2024.
