Sales of cars made by Elon Musk's Tesla slumped by more than half in April as Chinese electric carmakers saw their share surge, the continent's manufacturing association said Tuesday.
The world's largest auto expo opened its doors Wednesday in Shanghai, showcasing the new electric world order even as mounting trade barriers risk dampening China's global ambitions.
"I had never experienced anything like that."
A Tesla driver carved out the words alongside a silhouette of Musk's now infamous 'salute' he gave at an inaugural event in Washington, DC.
Shares in Chinese EV giant BYD surged to a record high Tuesday after it unveiled new battery technology it says can charge a vehicle in the same time it takes to fill up a petrol car.
Shares of the US electric vehicle pioneer Tesla plunged Tuesday, leaving its market value below $1 trillion as investors digested disappointing European sales and chief executive Elon Musk's aggressive foray into politics.