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Tesla faces serious competition in China amidst a significant sales decline.
Tesla continues to right-size and channelize efforts into more profitable avenues of its businesses amid its turnaround effort.
For now, Tesla has avoided a major setback, but the days ahead will reveal whether the company's direction is sufficient to engineer a fundamental turnaround.
The decline in EV adoption has also affected industry leader Tesla, leaving the future uncertain for other startups in the sector.
Tesla, a leading EV player, closed the week down over 6%, hit by weak Q1 deliveries and rumors of shelving low-cost vehicle plans.