Tesla's sales of its China-made electric vehicles dropped 49.2% in February from a year earlier to 30,688 cars, the lowest since August 2022, as the U.S. automaker faces pressure from Chinese rivals in a relentless smart EV price war.

BYD global EV sales jumped 56% in the first two months of this year, potentially putting it within arm’s reach of Musk’s carmaker.

Tesla's sales of its China-made EVs fell to its lowest point since August 2022, as the automaker faces pressure from Chinese rivals.