The Walls Are Closing in on Tesla

Tesla is really starting to feel the hurt — in large part due to Musk's self-inflicted wounds. Despite a share price that's slowly recovering from a disastrous year so far, the company has seen sales fall off a steep cliff in key markets, including Europe, China, and its home turf in the US. As Forbes reports, the walls are only beginning to close in as Tesla's competitors in China are starting to make significant moves, leapfrogging the company not only in terms of sales and revenue — but technology as well. Earlier this week, news emerged that Chinese EV maker BYD had crushed Tesla by passing the $100 billion mark in revenue last year. That's in comparison to Tesla's $97.7 billion in revenue over the same period. BYD is also working on software directly competing with Tesla's misleadingly-named Full Self-Driving system, called "God's Eye." The top-end version of the software will make use of laser and LIDAR sensors, which Tesla infamously ditched in favor of an exclusive reliance ... Read full article.