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Tesla has opened its first store in South America, located in Santiago, Chile. The move comes as Tesla faces a slowdown in electric vehicle (EV) demand globally and increased competition from Chinese rivals. While Tesla already has retail outlets in Mexico, this marks its entry into the South American market. Chile aims to sell only electric vehicles by 2035, although EV adoption is currently low in Latin America due to concerns about high prices and limited charging infrastructure. At the launch event, Tesla showcased its popular Model Y and Model 3 vehicles, attracting enthusiasts interested in the brand’s advanced features. The company registered its business in Chile in September, covering various activities related to vehicles, especially electric ones, as well as energy and electricity generation and supply. Despite Chile’s significant lithium reserves, a crucial component for EV batteries, Tesla has not disclosed detailed plans for its operations in the country. Elon Musk has recently expressed concerns about a sales growth slowdown for Tesla, citing industry-wide softening demand and increasing competition from Chinese EV manufacturers like BYD.
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