News Snapshot:
Huang Jiaxue, a businessman in Wenzhou, in eastern China, was thrilled when he got his Tesla Model 3 late last year. The car was good-looking, environmentally friendly and even domestically built, having rolled off the line at California-based Tesla’s vast factory in Shanghai. But in May he sold it, recouping only about 75 per cent of the 249,900 yuan (US$38,530) he paid. “It’s out of safety concerns,” Huang said, citing reports on Chinese social media, vigorously disputed by Tesla, of the brakes failing on its vehicles. “Reading about it every day, I’ve been afraid of driving.” There is little to...
