“Neither Tesla nor I asked for these rates,” Tesla CEO said Thursday in an interview at the VivaTech conference in Paris.
“Tesla is quite competitive in the Chinese market, without tariffs or deferential support. In general, I support no tariffs,” he added.
On May 14, the White House announced plans to impose 100% tariffs on electric vehicles imposed by Chinese automakers in an effort to combat “China’s unfair trade practices.”
Tesla has recently faced headwinds, notably in China, the world’s largest electric vehicle market. The American electric vehicle maker sold 62,167 vehicles in China in April, down 18% from a year earlier. according to to preliminary data from the China Passenger Car Association. Globally, the electric vehicle company posted its first year-over-year quarterly decline since 2020 during the first quarter of 2024.
Tesla faces growing competition from Chinese electric vehicle companies. In the last quarter of 2023, Chinese automaker BYD temporarily dethroned Tesla as the world’s leading seller of electric cars.
Musk’s comments Thursday on Chinese tariffs appear to represent a turnaround for the billionaire. As recently as January, Musk said the United States should consider trade barriers to prevent Chinese electric vehicle companies from taking over the US market, warning that the companies could “demolish” the US market if action was not taken.
In April, Tesla’s CEO said that “Chinese automakers are by far the most competitive.”
“This is where the toughest competitive challenges lie,” Musk said at a news conference. podcast with Nicolai Tangen, CEO of Norges Bank Investment Management. “They make great cars and work really hard.”
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