Tesla Reassigns Top Executive to China Amid Sales Decline

Tom Zhu returns to oversee operations in Tesla's challenging largest market as the company faces intensified competition and a significant sales drop.

• Tom Zhu, previously head of Tesla's Asia-Pacific operations, is redeployed to China to manage the company's strategy amid falling sales.
• Tesla's vehicle deliveries from its Shanghai plant fell 18% in April, contrasting with a 33% rise in the broader Chinese new-energy vehicle market.
• In response to competitive pressures from local firms like BYD and Xiaomi, Tesla has implemented multiple price cuts.
• Elon Musk's recent visit to Beijing resulted in conditional approval for Tesla's driver-assistance technology in China.
• Tesla's global workforce faces over 10% cuts as the company adjusts to slowing electric vehicle demand.

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Fortune Financial Post South China Morning Post