China EV war: Tesla demand fuels ‘home run’ quarter as NIO, Xpeng step up rivalry with five-fold surge in deliveries


Source: scmp.com scmp.com

Key Topics in this News Article:

News Snapshot:

Tesla’s market-smashing deliveries of electric vehicles (EVs) in the first quarter suggest Chief Executive Elon Musk’s bet on growth in China and Europe is starting to pay off. The results marked a strong start to a year in which Musk is counting on global operations to help scale-up production and sales. Tesla delivered 184,800 cars worldwide in the first quarter, exceeding the 169,850 average estimate in a Bloomberg survey of analysts. It represents an increase of about 4,000 vehicles over the preceding quarter. The latest quarter was “a massive home run in the eyes of the bulls,” Dan Ives at...