Electric cars: Tesla encounters its first big industrial and stock market setbacks

Cairo: Hani Kamal El-Din

 

The American discovers competition from groups like Stellantis (formerly PSA Peugeot-Citroën), or Renault, which offer electric cars that are much more agile and less expensive than the restrictive Tesla. Not to mention the Chinese, including BYD, who are flooding the market with their more competitive models. The turning point promises to be seriously complicated for Elon Musk and his dream of American hegemony.

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