Tesla will not be present at this year’s Shanghai Auto Show.know why

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The Shanghai auto show, which opens on April 18, will not host Tesla this year. A Shanghai-based representative for the electric car company confirmed that Tesla will not be at the show, but the person did not give any specific reasons for the decision. The EV brand drew unwanted attention in 2021 when a Tesla Model 3 owner climbed onto a display EV and yelled that her Tesla-driving father nearly died when the EV’s brakes failed.

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Updated on:
April 15, 2023 at 13:20 pm

File photo for representational purposes.  (Associated Press)
File photo for representational purposes. (Associated Press)

The protest was captured on video and went viral. Tesla has since faced numerous criticisms, forcing the company to make a public apology. Still, the EV maker isn’t acknowledging any flaws in the EV.

Also read: Tesla announces new price cuts.Check out where Tesla electric cars are the most affordable right now

At present, Tesla is setting off a frenzy of price cuts in China and around the world. The latest price cut was announced on March 14 and will be implemented in Europe, Israel and Singapore. Since January, the company has been cutting prices on electric vehicles like the Model 3 and Model Y. Prices for these EVs have fallen between 6% and 13.5% so far.

Volatility in costs is sparking a price war in the world’s largest auto market, according to a Bloomberg report. There are now multiple EV players competing, which will make China’s EV market extremely competitive.

Also read: Is this Chinese EV the reason behind Tesla’s price cut?

Last year, Tesla’s Shanghai Gigafactory produced 711,000 electric vehicles, accounting for 52% of its global production. The electric car maker also announced earlier this month that it will build a new battery factory in Shanghai to produce its Megapack large energy storage units. Construction of the facility will start in the third quarter of this year, with production starting in the second quarter of 2024.

First published date: April 15, 2023 at 13:20 PM CST

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