Tesla in trouble as Chinese rival builds its own Cybertruck in huge warning to Elon Musk

Tesla is facing stiff competition in China as motor giant BYD plans its own version of the Cybertruck.
BYD released images of their very own electric pickup truck sporting an orange and blue paint job.
The vehicle could go on the market as early as 2024. The price has not yet been revealed.
This comes after Tesla’s Cybertruck launch last year. Ford and Toyota have also entered the electric truck market with their F-150 Lightning and Hilux models respectively.
BYD and Elon Musk’s company are batting to be the world’s top electric vehicle seller.
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But both companies have seen sales plummet, casting doubt over the future of the electric vehicle market.
Each has dropped the prices of their vehicles as they battle to win over the Chinese market.
Figures from the Society of Motor Manufacturers and Traders (SMMT) show that sales of new electric cars fell 25 percent in the space of a year in January.
Forecasts show that electric vehicles will have a market share of 21 percent this year.
This is down from an estimate of 22 percent in October and the 23 percent expected a year ago.
In the first quarter of 2024, Tesla only delivered 386,000 cars – the lowest number since Q3 in 2022.
This also represents an eight percent decline from the same period last year.
In January, Musk warned that Chinese rivals will “demolish” rivals in the electric vehicle market if trade barriers are not imposed.
He said: “If there are no trade barriers established, they will pretty much demolish most other car companies in the world. They’re extremely good.”
Spencer Imel, a partner at consumer insights firm Lansgton, told Reuters at the time: “They enjoy high demand in China with innovation such as in-car technology and battery swapping.
“That, we believe, will be an important ingredient and a differentiator in their future growth overseas.”