Tesla is facing tough times in the European Union as its sales continue to fall behind those of its Chinese competitor, BYD. Fresh data from the European Automobile Manufacturers Association shows that while Tesla is losing ground, BYD is rapidly gaining momentum in one of the world’s most important car markets.
For newer Western automakers like Rivian Automotive Inc. (NASDAQ: RIVN), the writing is on the wall. Their success may depend on how their products compete with those of BYD if they are to gain any…
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