Chinese Carmakers, Volkswagen, BMW Roll Out “Tesla Killers”

Wednesday, April 19, 2017
By Paul Martin

by Tyler Durden
ZeroHedge.com
Apr 19, 2017

The much anticipated Tesla Model 3 has yet to be released and already a groundswell of electric car competition is forming to challenge Elon Musk’s upcoming offering. Start in China, where the Model 3 is not due to arrive until next year, but already Chinese-funded, smart, connected plug-in car start-ups are scrambling to launch “Tesla killer” cars to go head-to-head against Tesla “mass market” sedan.

In taking on the monopoly, yet cash-burning premium electric car juggernaut that is Tesla, the key for leading Chinese electric vehicle start-ups such as Future Mobility, WM Motor and Singulato Motors, is that they will produce their cars locally, making them better able to match the Model 3’s price, Reuters notes. Tesla is expected to price its Model 3 from $35,000 in the United States. Buyers in China would expect to add 25% to that in import tariffs.

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