Tesla is a leading manufacturer of Electric Vehicles (EV) based in the USA. In 2019, Tesla struck a deal with the Chinese government to establish its first factory in Shanghai, which allowed Tesla to expand and operate under lower costs. Ever since then, the local Chinese EV market started rising, and many players in the industry (e.g. BYD, NIO, etc.) have been receiving major support from the Chinese government for the past 2-3 years.