After a wild 2019, Tesla is finally making cars in China. It picked a rough time to start.
The country's car industry is in a major slump, with momentum expected to slow further as a broad economic slowdown becomes more pronounced. Tesla also faces stiff competition from local carmakers and foreign rivals with more manufacturing experience in China.
The company has also had an erratic year: It lost a ton of money in the first quarter as competition heated up and its cars lost a big chunk of their US tax incentives, before rebounding as Tesla got a better handle on costs.The company will have to stay on top of its game to succeed in China.The country's car market has grown rapidly since the early 1990s, when the economy started taking off on the back of bold market reforms.
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