Fair point on SHG production but it in my opinion actually strengthens the argument. Tesla's Giga Shanghai is a wholly-owned foreign factory and operated under Tesla's control with its own tech, software, and quality standards. A huge portion of its output (~60-70% in recent months) is exported to Europe, Australia, and elsewhere, where it directly competes with (and often undercuts) both Chinese exporters and local legacy brands. In China itself Tesla's domestic market share has dropped significantly but it still innovates and pressures locals on tech. No other Western legacy automaker (VW, GM, Stellantis, BMW, Mercedes, etc.) comes close to this level of direct, high-volume head-to-head competition with Chinese EV makers. Most rely on slow JVs and are losing share fast or retreating completely. Tesla is the only one designing competitive EVs at scale. Tesla is manufacturing efficiently in China for global markets and maintaining a valuation premium based on that edge. It's not "made in China = Chinese company." It's Tesla leveraging global supply chains while driving the technology frontier. The others? Mostly watching from the sidelines as Chinese firms eat their breakfast, lunch and dinnner...
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