Among major backers of the chip designer is smartphone giant Xiaomi, which won approval last month from China's state planner to manufacture electric vehicles

French automaker Renault is to hack back costs by 40% while Peugeot-Fiat carmaker Stellantis described the competition with China as “brutal”

Purchases of Nio models slid in April and May as a price war intensified, with Tesla's China sales more than five times Nio's over the same period

Before travelling to China, US CEOs have particularly been seeking advice about how Beijing's expansion of its counter-espionage law could affect them

Musk is expected to meet several senior Chinese officials and visit Tesla's Shanghai plant later in the week

The trip is Musk's first to China since he made headlines in early 2020 by dancing on stage at Tesla's Shanghai gigafactory

Executives from the electric vehicle maker are said to have discussed the incentives on offer to them with Indian government officials

The move came as data from the China Passenger Car Association showed the electric vehicle maker delivered 14.7% fewer China-made electric vehicles in April, compared to March

Analysts say an ageing product line, yet-to-be-upgraded navigation systems and an absence of luxury interior touches have also taken a toll on Tesla

The US carmaker's aggressive price cuts earlier this year helped it to stoke demand amid rising inventories

The US auto firm plans to ramp up output at its Shanghai plant over the next two months to meet demand sparked by price cuts early last month

Chief executive Elon Musk said the EV-maker's 2023 deliveries could hit 2 million vehicles, so long as there were no external disruptions