Tesla Has A New Chinese Electric Vehicle Competitor: How A Company That Used To Sell Cheap TVs Is Entering EV Race

Tesla Inc (NASDAQ:TSLA) has dominated the electric vehicle sector for years, but is seeing its global market share under pressure in China and other territories with Chinese EV companies launching low-cost models.

What Happened: Tesla and the electric vehicle sector could have another rival soon with Chinese company Skywell unveiling new electric vehicles at the 2024 Paris Auto Show this week.

Skywell may not be a household name in the U.S. yet, but there's a chance that consumers are familiar with the company's Skyworth affordable televisions that are sold in America by Walmart and Amazon.

Skywell unveiled the Q hatchback electric vehicle at the auto show, as reported by Electrek. The vehicle could compete against other similar electric vehicle offerings like the VW ID.3, Cupra Born and BYD Dolphin, according to the report.

The Q is expected to go on sale in 2025 in Europe ...

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