Tesla vs. Xiaomi: Battle of the EVs

Note: This section contains information in English only.
Source: Dukascopy Bank SA


Tesla has made a significant impact in the car manufacturing sector with its range of EVs offered to customers. Additionally, the "Elon Effect" has greatly contributed to the popularity of Tesla car models. One of Tesla's success stories has been in the Asian market, specifically China. The increasing demand for EVs in China has largely been met by Tesla's variety of models in recent years, but this may soon change.

XIAOMI recently presented its newest EV SUV which is already considered to be direct competitor to TESLA model Y. Billionaire Lei Jun revealed the YU7, an electric SUV like Tesla's Model Y, via Weibo post. This SUV is a key part of Xiaomi's $10 billion EV project, led by Lei, as the company aims have greater market share of the EV market.



The moves in stock prices have been nearly identical in terms of returns, since August 1st. However, a possible change in the Chinese EV market could come directly from the Chinese government. Given the upcoming trade tensions with the US and the history of the CCP's direct stimulus to specific sectors, it is highly plausible that the current trend for both companies will not continue. There is no doubt that there will be winners and losers in the Chinese EV marketplace, considering factors like politics, tariffs, competitors, and local government influence.
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