Tesla hasn't broken out in sales by region or country, but by some estimates, it has sold nearly 2 million cars in China to date. To Elon Musk, that's a huge missed opportunity only because Full Self-Driving isn't permitted for complete use in that country. And even if it was, the data from those cars cannot be transmitted back to the U.S. to bolster his autonomous driving dreams further.
But while there is a peril in China's overcapacity, there is also a power in the hyper-competition it has unleashed. Exporting that overcapacity, however, has brought EV makers to authorities' attention. XPeng said a European probe into Chinese-made EVs could steer it to invest in plants or suppliers abroad, as the spectre of higher tariffs looms. Polestar Automotive is preparing to shift production of cars it plans to sell into Europe to its U.S. plant from China, its CEO said.
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