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Fortune
Fortune
Tristan Bove

Tesla's biggest competition will be in China, Elon Musk says

Elon Musk waving to a crowd outside a courthouse (Credit: Marlena Sloss/Bloomberg via Getty Images)

Elon Musk temporarily shed his “Mr. Tweet” cap for Wednesday’s Tesla earnings call to identify the biggest challenger to his electric car giant: competition from China.

With Tesla coming off its worst year in markets, Musk, who has been the company’s CEO since 2008, had some tough questions to answer during the investor call covering the company’s performance during the fourth quarter of 2022. The company’s shares have fallen 50% over the past year after a meteoric rise in 2020 and 2021, nestling in at a two-year low in November of last year. 

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