[Asia Economy Reporter Yujin Cho] Elon Musk, CEO of Tesla, continued his pro-China remarks by stating that Tesla's biggest competitor is Chinese electric vehicle companies.
On the 26th (local time), according to Bloomberg News and others, Musk said during a conference call following Tesla's Q4 earnings announcement the previous day, in response to a question about Chinese electric vehicle companies, "(Chinese companies) work the hardest and the smartest," adding, "They are the most competitive in the world."
He also emphasized, "Chinese companies are most likely to become the second after Tesla." He did not mention the names of the Chinese companies he considers competitive.
The news agency reported that Musk has been making pro-China remarks, praising China where he has manufacturing plants and Chinese competitors.
In 2021, Musk evaluated Chinese automotive industry workers as "the most competitive in the world," and last year, during the COVID-19 lockdown, he praised the Chinese division that operated Tesla's Shanghai factory, saying they "worked overnight until 3 a.m."
Last year, Tesla produced 710,000 vehicles, more than half (52%) of its total production, at its factories in China. Among Chinese electric vehicle companies, BYD maintains an overwhelming lead, while startups such as Nio, Xiaopeng, and Li Xiang each produce over 10,000 electric vehicles annually.
BYD, once called Tesla's rival in China, recorded 1.86 million deliveries last year, surpassing Tesla's 1.3 million deliveries for the first time based on delivery volume.
Citigroup estimated that BYD will aggressively pursue production and sales this year as well, with annual deliveries expected to reach 3 million units, double last year's figure. This is 50% more than Tesla's announced delivery target of 2 million units for this year.
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