this post was submitted on 13 Jan 2024
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141
Tesla Gets a $94 Billion Reality Check as EV Winter Sets In (www.bloomberg.com)
submitted 10 months ago by L4s@lemmy.world to c/technology@lemmy.world
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Tesla Gets a $94 Billion Reality Check as EV Winter Sets In::Tesla Inc. had a blockbuster 2023, as its shares more than doubled in 12 months. But 2024 is starting on a different note, with Elon Musk’s electric vehicle maker off to its worst start to any year — ever.

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[–] cyd@lemmy.world 10 points 10 months ago

didn’t take off until Tesla built a Gigafactory to supply their batteries

BYD doesn't rely on Tesla to supply their batteries. It's the other way round: BYD started out as a battery company, and Tesla relies on their batteries in Shanghai, Germany, and other factories. Tesla originally used batteries from CATL, another Chinese company, but started switching to BYD a few years ago.