BYD is taking advantage of Tesla's rough year as the two rivals compete to become the world's largest EV maker.

Tesla investors are bracing for a drop in Q1 vehicle deliveries as a backlash against CEO Elon Musk's politics exacerbates weakening demand.

Tesla's quarterly sales plunged 13% to the weakest in nearly three years, hurt by a backlash against CEO Elon Musk's politics, rising global competition and people waiting for a refresh to its highest-selling electric vehicle Model Y.

Lucid Group, Inc (LCID) announced pricing of $1 billion convertible notes due 2030, granting option for additional $0.1 billion. Interest of 5%, convertible at $3 per share, with 25% premium. Proceeds to fund repurchases and capped call transactions.

BYD, Elon Musk's Chinese archrival, posted a 60% sales surge in the first three months of the year, in stark contrast to Tesla's decline.

Shares of Tesla fell more than 2% on Wednesday as the company recorded a bigger-than-expected drop in sales in the January-March period.

With Tesla having issues selling new Cybertrucks, the automaker is reportedly not taking any as trade-ins. Many Cybertruck owners reported trying to trade-in the truck for a new vehicle and they were told that the automaker currently doesn’t accept its own vehicle as a trade-in.

Tesla (TSLA) electric vehicle rival XPeng (XPEV), released its March delivery numbers. The Chinese EV maker delivered 33,205 vehicles in March,