Tesla (TSLA) turns positive after price drop as crowds flock to stores, but they are actually protesters
After starting the day deep in the red due to a price cut being announced in China, Tesla (TSLA) turned positive after crowds were reportedly flocking to stores to buy cars.
The only problem is that they were not there to buy but to protest.
Earlier today, we reported on Tesla slashing prices in China, which raised demand concerns for the automaker in the important EV market.
The price drops on some Model 3 and Model Y trims were significant, and while it will have a negative effect on the company’s gross margin, we expected that it would be successful in increasing sales.
The company’s stock (TSLA) was significantly down in premarket trading following the news.
Now Tesla investors and fans are sharing stories that buyers are crowding Tesla’s stores in China to buy following the price drops:
Tesla’s stock has since turned positive and recovered from the drop that followed the price adjustment in China.
However, Electrek learned that most crowds going to Tesla stores are there actually to protest the price drops.
Several groups of recent Tesla buyers announced on Weibo that they were organizing protests at Tesla stores across the country. The protesters are sharing videos on China’s Weibo, and some of those videos are being shared in the US as customers rushing to buy following the price drop.
Tesla customers in China have a history of protesting following price drops. They first did so back in 2019 following a rare price drop from Tesla and then again in October 2022 following a price drop.
The company famously has a policy of having consistent pricing with no discount, but it has moved away from that strategy lately.
While reports of a price reduction were coming from China at the end of 2022, Tesla officials strongly denied them, but the company specifically mentioned that no further price increase would come in 2022.
Now, a few days after the end of the year, Tesla significantly dropped the price, and many customers who bought at the end of 2022 are frustrated.
Grace Tao, vice president of Tesla China, posted on Weibo today claiming that the price drop is actually linked to “engineering innovations” (translated from Chinese):
Behind Tesla’s price adjustments, h ere are countless engineering innovations, which are essentially unique and excellent laws of cost control: including not limited to vehicle integration design, production line design, supply chain management, and even millisecond-level optimization of robotic arm coordination Route… Start from “first principles” and insist on cost pricing. Respond to the country’s call with practical actions to promote economic development and release consumption potential. 2023 Let’s welcome a better life together.
However, many people are not buying this explanation. Historically, Tesla has increased gross margins with cost improvements and only adjusted pricing when needed to create demand.
Electrek’s Take
Normally, I wouldn’t get behind those protesters since they bought those vehicles for a price they agreed on, but it’s true that Tesla has been sending mixed messages to buyers in China.
Also, is anyone really buying Tao’s explanation? I see a lot of Tesla blogs running with it without questioning it, but that hasn’t been Tesla’s MO.
Why would you reduce pricing if people are buying at those prices? That has been Tesla’s way for the last two years.
Featured Image: Picture of a Tesla protester in China from 2021.
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Volvo Cars took the wraps off new-for-2026 S90 plug-in hybrid, calling the big sedan the most elegant and comfortable 90 yet, promising nearly 50 miles (80 km) of all-electric range and a comprehensive suite of high-end technology and design updates … but if you’re reading this in English, you probably can’t have one.
The updated Volvo S90 is still blinking into the spotlight, but there are already reports that Volvo Cars has decided against bringing the slick new sedan to the US. And Canada. And the UK. And … you get the idea.
That’s too bad, too – because the SPA S90 has always been a comfortable and capable performer. Alas, sedans aren’t selling, you could get whiplash trying to keep track of all the tariff news these days, and Volvo (like a lot of companies in 2025, frankly), no longer needs the English-speaking world to keep it profitable.
“The S90 is a key part of our product portfolio for the coming years in some of our Asian markets,” says Erik Severinson, Chief Product and Strategy Officer at Volvo Cars. “Together with the new fully electric ES90, the new S90 ensures we have a complete and attractive offering for customers who value safety and want to drive a large, sleek Volvo sedan.”
Invoking the electric-only ES90 EV is a key point here – and Volvo is pushing its marketing heavily into the idea that the PHEV version(s) of the face-lifted luxo-cruiser is “really” an EV, with press copy that reads:
As a plug-in hybrid, the new S90 is an electric car with a back-up plan. It offers 80 kilometers of fully electric range on a single charge under the WLTP testing cycle, while also providing more power when needed. This means that many S90 drivers will be able to do their daily commute with zero tailpipe emissions. Volvo Cars’ data shows that nearly half of the distance covered by the latest plug-in hybrid Volvo cars is powered purely by electricity.
There’s plenty to unpack there – not the least of which is whether or not the cars’ owners will ever actually plug them in. My personal experience with friends and neighbors who own T8/PHEV Volvos now would tell me that they’re more likely than, say, Jeep Wrangler 4xe owners to plug-in … but it hardly matters at this point.
The new S90 will be available to order for customers in China this summer, with selected other markets following later.
Check out some of the official press photos, below, then let us know whether or not you’ll miss seeing new S90s on English-speaking roads in the comments.
Volvo S90 photo gallery
SOURCE | IMAGES: Volvo Cars.
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On today’s fleet-focused episode of Quick Charge, we talk about a hot topic in today’s trucking industry called, “the messy middle,” explore some of the ways legacy truck brands are working to reduce fuel consumption and increase freight efficiency. PLUS: we’ve got ReVolt Motors’ CEO and founder Gus Gardner on-hand to tell us why he thinks his solution is better.
You know, for some people.
We’ve also got a look at the Kenworth Supertruck 2 concept truck, revisit the Revoy hybrid tandem trailer, and even plug a great article by CCJ’s Jeff Seger, who is asking some great questions over there. All this and more – enjoy!
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If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
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Thanks to Trump’s repeated executive order attacks on US clean energy policy, nearly $8 billion in investments and 16 new large-scale factories and other projects were cancelled, closed, or downsized in Q1 2025.
The $7.9 billion in investments withdrawn since January are more than three times the total investments cancelled over the previous 30 months, according to nonpartisan policy group E2’s latest Clean Economy Works monthly update.
However, companies continue to invest in the US renewable sector. Businesses in March announced 10 projects worth more than $1.6 billion for new solar, EV, and grid and transmission equipment factories across six states. That includes Tesla’s plan to invest $200 million in a battery factory near Houston that’s expected to create at least 1,500 new jobs. Combined, the projects are expected to create at least 5,000 new permanent jobs if completed.
Michael Timberlake of E2 said, “Clean energy companies still want to invest in America, but uncertainty over Trump administration policies and the future of critical clean energy tax credits are taking a clear toll. If this self-inflicted and unnecessary market uncertainty continues, we’ll almost certainly see more projects paused, more construction halted, and more job opportunities disappear.”
March’s 10 new projects bring the overall number of major clean energy projects tracked by E2 to 390 across 42 states and Puerto Rico. Companies have said they plan to invest more than $133 billion in these projects and hire 122,000 permanent workers.
Since Congress passed federal clean energy tax credits in August 2022, 34 clean energy projects have been cancelled, downsized, or shut down altogether, wiping out more than 15,000 jobs and scrapping $10 billion in planned investment, according to E2 and Atlas Public Policy.
However, in just the first three months of 2025, after Trump started rolling back clean energy policies, 13 projects were scrapped or scaled back, totaling more than $5 billion. That includes Bosch pulling the plug on its $200 million hydrogen fuel cell plant in South Carolina and Freyr Battery canceling its $2.5 billion battery factory in Georgia.
Republican-led districts have reaped the biggest rewards from Biden’s clean energy tax credits, but they’re also taking the biggest hits under Trump. So far, more than $6 billion in projects and over 10,000 jobs have been wiped out in GOP districts alone.
And the stakes are high. Through March, Republican districts have claimed 62% of all clean energy project announcements, 71% of the jobs, and a staggering 83% of the total investment.
A full map and list of announcements can be seen on E2’s website here. E2 says it will incorporate cancellation data in the coming weeks.
Read more: FREYR kills plans to build a $2.6 billion battery factory in Georgia
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