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Tesla: Cost-Cutting Pressure Will Continue To Rise Due To China

News Snapshot:

Xiaolu Chu Tesla, Inc. (NASDAQ:TSLA) is facing headwinds due to recent cost-cutting pressures in the electric vehicle ("EV") industry, an ominous sign of future trajectory. CEO Elon Musk and many other executives in the auto industry have blamed high interest rates and macroeconomic headwinds for a reduction in prices and a fall in margins. However, there is a bigger trend which is building within the EV industry. There is a massive overcapacity within China's auto industry. The European Union has opened an anti-subsidy investigation against Chinese EVs and blames it for "flooding" the market in the EU. Chinese EVs have…

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