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Tesla s Fall From Grace In China Shows Perils Of Betting On Beijing Tesla s Fall From Grace In China Shows Perils Of Betting On Beijing What is clear is that the remarkable honeymoon Elon Musk enjoyed in the world s most populous nation is over. Tesla has began an effort to better manage how it s perceived by consumers Huang Jiaxue, a businessman in Wenzhou in eastern China, was thrilled when he got his Tesla Model 3 late last year. The car was good-looking, environmentally friendly, and even domestically built, having rolled off the line at California-based Tesla s vast factory in Shanghai. But in May he sold it, recouping only about 75% of the 249,900 yuan ($38,600) he paid. It s out of safety concerns, Huang said, citing reports on Chinese social media, vigorously disputed by Tesla, about the brakes failing in its vehicles. Reading about it every day, I ve been afraid of driving.

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