Auto China 2024 will be held amid accusations that China’s new energy vehicle industry is suffering from overcapacity.
After announcing a 10 percent workforce reduction last week, Tesla announced that its first-quarter revenue saw a 9-percent decrease to $21.3 billion, marking the largest decline since 2012. In light of Tesla’s recent performance, CGTN reporter Li Mengyuan discusses why such overcapacity claims against China are untenable.