Why Tesla Is Rebounding as China’s Electric Car Market Faces Shakeout

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The market value of CEO Elon Musk’s electric vehicle (EV) company Tesla Inc. (TSLA) has rebounded by almost 92% and $29 billion from its 52-week low on June 3, 2019, on forecasts of rising profits and market share. Moreover, the outlook for Tesla in China, the world’s largest vehicle market, may be brightening as would-be competitors face obstacles.

To reduce air pollution, China plans to become a world leader in electric vehicles. As a result, dozens of Chinese EV startups have raised over $18 billion, but this may represent a speculative bubble, Bloomberg reports

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