Elon Musk Is Unsuitable. Tesla Isn't America's No. 1 Premium Carmaker

Elon Musk and Grimes

Elon Musk and Grimes

Tesla unveiled plans in July for what is Musk's biggest overseas move yet, saying the factory's eventual annual production of 500,000 vehicles would dramatically increase its output and allow more direct access to the world's biggest electric-vehicle market.

On Friday, the 4th of January, the Tesla Inc. said that they had been planning to start delivering their Model 3 cars to the customers in China from March, 2019, concreting the time-frame, which was tweeted by Tesla head, Elon Musk a year ago.

Concerns about the shrinking U.S. tax credit and Tesla's decision to cut prices by Dollars 2,000 to partially offset the lower incentive sent the automaker's shares plunging 9.7 percent during the first two trading days of the year. The challenging environment also includes competition from several start-ups that all want to be like Tesla. It also comes on the back of Tesla's ability to ramp up production of Model 3 sedans, marking the beginning of a turn in market sentiment.

If you thought that 2018's most batshit feud was over, THEN OH BOY, YOU THOUGHT WRONG, BUDDY, as over the weekend, Azealia Banks blew up at Elon Musk yet again, claiming that she has even more dirt to dish on the billionaire, and things could get "ugly".

China typically requires foreign automakers to set up joint ventures with domestic firms when establishing manufacturing plants, which entails the sharing of profits and technology with local partners. The deadline of reduced tariff would end on March 2nd, and after that, the tariff on United States made autos on China would revert back to 40 percent, instead current 15 percent.

At the height of the dispute, when China imposed the additional duty on American-made autos, Tesla sales in the Asian country - which is its second-largest market - plunged to as low as 211 in October, from 3,552 in June, according to data compiled by Bloomberg Intelligence. In November, it clocked 393. Passenger vehicle sales declined for six consecutive months through November and are on course for an annual decline. Tesla, which has said it plans to use mostly local debt to fund the factory, plans to start production this year.

Musk said the Shanghai plant would supply the "Greater China region" with "affordable versions" of the Tesla Model 3 - the carmaker's first mid-price, mass-market vehicle - and its planned Model Y.

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