TheStreet.com
Tesla’s Chinese Rivals Have Some Bad News
Elon Musk’s Tesla remains the king of the electric vehicle makers as delivery and production results from its rivals still pale in comparison. While Tesla’s July deliveries and production numbers are expected in the next day or so, its totals for the month will likely be thousands higher than its rivals. Tesla on July 2 reported an 18% decline in production for the second quarter mainly as a result of April plant shutdowns in China caused by the covid-19 pandemic, which somewhat carried over into May. However, Musk’s company still produced and delivered more EVs than any other company in the world in the first half of the year with 563,987 produced and 545,884 deliveries.