China is the world’s largest automotive market, and understandably so, an important one for electric vehicle (EV) makers like Tesla. Although competitive Chinese automaker BYD isn’t yet slated to enter the U.S. market, the company’s recent release of a city EV with a price tag under $10,000 has some worried for when it and other low-cost companies do.
BYD launched its Seagull, a small hatchback EV with a price tag starting at 69,800 yuan (~$9,773), at the Shanghai Auto Show last year. While BYD said just last month that it has no plans to enter the U.S. auto market anytime soon, some U.S. automotive groups have expressed concerns over the Seagull EV and other affordable mass-market EVs eventually coming to North America.
Credit: BYD
At the same time, many automakers including Tesla are racing to build their next-generation, mass-market EVs, set to first be produced in Texas as soon as 2025, then later at an upcoming factory in Mexico, and eventually at a yet-unannounced third location. However Tesla and other automakers have generally been considered to be targeting a $25,000 price tag, and while affordable, it’s still far greater than $10,000.
While BYD isn’t planning to enter the U.S. at this point, the company has been beginning to deliver its EVs in several markets throughout Europe and Asia. Even despite ongoing political concerns, its entry into North America is considered an eventuality, and other Chinese automakers likely won’t be far behind.
Former General Motors (GM) executive Terry Woychowski, who is now President of engineering consultancy Caresoft Global, called the arrival of the Seagull a “clarion call for the rest of the auto industry,” adding that it’s a “significant event” (via CNBC).
In a report last month from the Alliance for American Manufacturing, similar points were highlighted:
“The introduction of cheap Chinese autos — which are so inexpensive because they are backed with the power and funding of the Chinese government — to the American market could end up being an extinction-level event for the U.S. auto sector,” the organization writes.
BYD last year sold 1.57 million battery-electric vehicles (BEVs), substantially increased from 2020, when the automaker sold just 130,970. The automaker also reached a production milestone of 200,000 Seagull EV units in November.
Chinese automakers are the most competitive in our experience
— Elon Musk (@elonmusk) October 8, 2023
Tesla CEO Elon Musk, while continually encouraging increased competition to help advance sustainable transportation, aired a similar warning during Tesla’s Q4 and FY 2023 earnings call in January.
“The Chinese car companies are the most competitive car companies in the world,” Musk said during the call. “So, I think they will have significant success outside of China depending on what kind of tariffs or trade barriers are established.”
“Frankly, I think, if there are not trade barriers established, they will pretty much demolish most other companies in the world.”
What are your thoughts? Let me know at zach@teslarati.com, find me on X at @zacharyvisconti, or send your tips to us at tips@teslarati.com.
Tesla has tentatively scheduled its unveiling event for the Roadster’s next-generation iteration, and you will not believe the date the company picked for it.
Tesla CEO Elon Musk said during the 2025 Annual Shareholders Meeting that the company is aiming for an April 1 demo event.
Yes, April Fools’ Day.
🚨 Tesla’s unveiling event for the Roadster Gen 2 is scheduled for April 1, 2026.
Yes, April Fools’ Day. pic.twitter.com/sw09GUYFPV
— TESLARATI (@Teslarati) November 6, 2025
Tesla originally aimed for its “most epic demo” to take place at the end of this year. However, the writing on the wall as 2025 winds down seemed to indicate the company was not quite ready to show off everything it plans to implement into the Roadster.
Its capabilities have been teased quite heavily throughout most of the year, but the biggest hints came last week when Musk appeared on the Joe Rogan Experience Podcast.
He said:
“Whether it’s good or bad, it will be unforgettable. My friend Peter Thiel once reflected that the future was supposed to have flying cars, but we don’t have flying cars. I think if Peter wants a flying car, he should be able to buy one…I think it has a shot at being the most memorable product unveil ever. [It will be unveiled] hopefully before the end of the year. You know, we need to make sure that it works. This is some crazy technology in this car. Let’s just put it this way: if you took all the James Bond cars and combined them, it’s crazier than that.”
The Roadster has been somewhat of a letdown, at least in its newest version, thus far. Tesla has routinely delayed the project, putting those who put lofty down payments on the car in a weird limbo, lost at what to do.
One notable pre-orderer cancelled his reservation last week and got in a spat with Musk about it.
Now that there is a definitive date for the Roadster unveiling, Musk and Co. should have a more definitive cutoff date for features and capabilities. Chief Designer Franz von Holzhausen said earlier this year that when they showed Musk what they had done with the Roadster, the CEO encouraged them to do even more with it.
This delayed things further.
Musk also said he believes production would begin between 12 and 18 months after the unveiling, putting it out sometime in 2027.
Elon Musk
Tesla (TSLA) shareholders officially approve Elon Musk’s 2025 performance award
To earn his landmark pay package, Musk would be required to lift Tesla’s market capitalization from about $1.1 trillion today to $8.5 trillion over the next decade.
Tesla (NASDAQ:TSLA) CEO Elon Musk has officially approved his 2025 Performance Award, a landmark pay package that could make him the world’s first trillionaire and make Tesla the most valuable company in the world by a mile.
The 2025 CEO Performance Award was officially approved by Tesla shareholders at the 2025 Annual Shareholder Meeting.
Elon Musk‘s landmark pay package
As per Tesla, more than 75% of the shareholders approved Elon Musk’s 2025 CEO Performance Award. It was then unsurprising that the approval of Elon Musk’s pay plan received overwhelming applause from the event’s attendees.
The CEO took to the stage with much enthusiasm, welcoming every shareholder to the event and dancing briefly on stage. Optimus also danced on stage smoothly, demonstrating its improved movements to much appause.
Elon Musk’s 10-year targets
To earn his 2025 CEO Performance Award, Musk would be required to grow Tesla’s market capitalization from about $1.1 trillion today to $8.5 trillion over the next decade. At that level, Tesla would surpass every major public company in existence. The compensation plan also requires Tesla’s operating profit to grow from $17 billion last year to $400 billion annually.
Apart from leading Tesla to become the world’s biggest company in history, Musk is also required to hit several product targets for the electric vehicle maker. These include the delivery of 20 million Tesla vehicles cumulatively, 10 million active FSD subscriptions, 1 million Tesla bots delivered, and 1 million Robotaxis in operation.
The 2025 Tesla Annual Shareholder Meeting from Gigafactory Texas is set to kick off at 4 p.m. EDT, 3 p.m. CDT.
The company will be having its typical presentation for the event, where CEO Elon Musk, along with other executives will discuss things like future products, the outlook of its self-driving development, potential releases for next year, and some current events within the company.
However, this year’s Shareholder Meeting has slightly more implications than others, as Investors and Shareholders have spent the last several months petitioning and supporting one of the proposals on the docket that could be the deciding factor in Musk staying or leaving Tesla.
Elon Musk’s new pay plan ties trillionaire status to Tesla’s $8.5 trillion valuation
Proposal four outlines a new compensation package for Musk that could give him $1 trillion in shares if he is able to complete a variety of lofty goals related to production, self-driving, and other important company projects.
Musk has said that he is truly after more influence on company decisions, especially as the Tesla Optimus program is ramping up and becoming a more relevant part of the company’s story.
The CEO said during the Q3 Earnings Call that he would not feel comfortable developing an “army of robots” if he did not have a comfortable amount of influence in some of the decisions. He could be voted our or out-influenced by what he calls “activist shareholders.”
One of those investors came after his past pay package, which was approved by shareholders not once, but twice. Musk still was not able to obtain the pay because of a Delaware Chancery Court ruling.
Nevertheless, this is one of the last ditch efforts Tesla is making to get Musk the compensation that he wants.
The meeting is set to kick off at 3 p.m. local time in Austin. You can watch it via the livestream on X:
Here is the link to Tesla’s 2025 Annual Shareholder Meeting:https://t.co/29dN4gkMWY
— TESLARATI (@Teslarati) November 6, 2025
Tesla schedules Roadster unveiling event, and you won’t believe when it is
Tesla (TSLA) shareholders officially approve Elon Musk’s 2025 performance award
Tesla 2025 Annual Shareholder Meeting: How to watch
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