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Tesla at Risk From China rates, to add to Musk's Woes



Tesla Inc. needs to take another setback after China has taken electric cars among American products that are working against the US with additional duties

while other US-imported cars were also on board On the list, including most types of SUVs, Tesla is at particular risk, as it relies on American-made vehicles for all Chinese sales. Other US automakers such as General Motors Co. and Ford Motor Co. manufacture in China.

China's announcement adds to one tough final weeks for executives Elon Musk and Tesla investors, with a string of bad news that hurt the company's stock. According to Bloomberg data, China is the carmaker's largest single market after the US, and an additional tariff threatens to provide local manufacturers with further price advantages.

"The increase in tax collection hurts Tesla most not yet started local production in China," said Cui Dongshu, secretary general of the Chinese Car Association. "For GM and Ford, they can always catch up with China-made." [19659003] A Tesla spokeswoman based in Beijing warn (19659003) Tesla has been working with the Shanghai government since last year to investigate the assembly of cars in China, but has not yet reached an agreement. An agreement has not yet been finalized, as the two parties do not agree on the ownership of a proposed factory, people reported in February 1965. The US automaker is already hampered by the current import of 25 percent of the tax imposed by the Sticker price catapulted over the average of most consumers. An additional task would ban Tesla further into a niche brand offered only by the most affluent.

Tesla sold 14,883 vehicles in China last year, which accounts for only 3 percent of the US battery-powered electric vehicle sales # 10 brand in this segment. According to Bloomberg, China accounted for 17 percent of Tesla's 2017 revenue.

In the first two months of this year, China's PCA imported 36,000 vehicles from the US, including Teslas, Lincolns, and Mustangs. According to PCA Cui, European automakers such as Daimler AG and BMW AG also sell cars manufactured in China.

In February, China imported 2,323 vehicles with electric motors from the US, including 2,160 Tesla.

– With the support of Ying Tian

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