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Tesla’s Elon Musk Touches Down In China With Apparent Meetings With Power Players
The electric vehicle manufacturer’s trip abroad is sure to be of interest to investors who have gone through some up and down times lately
Electric vehicle manufacturer Tesla (TSLA) has struggled recently with wildly fluctauating stock prices, recalls and flagging delivery numbers. Their entry into the chinese market has also been anything but easy, but it appears that CEO Elon Musk isn’t taking these challenges laying down, as it has been reported that he traveled to China this weekend and appears to be in the midst of meetings with a number of Chinese power players.
Long a Wall Street darling with seemingly nothing out of their reach, Tesla has begun to look human of late. Bad news has piled up, with Q1 2024 delivery numbers coming in 8.5% less than the same period as of a year ago. They have also been strongly challenged in the major market of China by other EV makers, eliminating the kind of giant share of the electric market they enjoy at home in the United States that they hoped they could replicate. Last week, the manufacturer also announced layoffs of about 10% of their total workforce. Finally, they just had to recall all of the nearly 4,000 Cybertrucks currently on the road due to…
