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One of the world’s leading electric vehicle manufacturers, Tesla, has faced a significant setback as it grapples with a decline in sales. Despite expecting a decrease in annual sales for the first time since the pandemic, the magnitude of the drop caught the company off guard, leading to repercussions on Wall Street.

In 2023, China experienced remarkable growth in the production and sales of new energy vehicles (NEVs), consolidating its global leadership in the electric mobility sector.