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Benzinga
Benzinga
Business
Chris Katje

FOUND: Tesla model y in trouble in china sales data show rival quickly taking over | Mind Blowing Facts

China Xiaomi Tesla Inc. electric vehicle Lei Jun
The Tesla Trade

Tesla Inc. (NASDAQ:TSLA) continues to see sales pressure for its electric vehicles in the Chinese market. A new report indicates that the introduction of a new vehicle from a growing rival in the region could significantly impact the dominance of the Model Y.

What Happened: Smartphone company Xiaomi (OTC:XIACF) is pushing deeper into the electric vehicle market, with recent launches of the SU7 and YU7, which compete against the Model 3 and Model Y from Tesla, respectively.

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