Things just keep getting more difficult in China for Elon Musk's Tesla

Tesla's China nightmare just deepened — again. The latest blow came from Chinese smartphone and electric vehicle maker Xiaomi, which announced Thursday it had received close to 300,000 orders for its new YU7 electric SUV within an hour of its launch.The YU7, priced at the equivalent of $35,000 in China, is a direct competitor to Tesla's best-selling Model Y, which starts at $36,760. Xiaomi CEO Lei Jun didn't hold back during YU7's launch on Thursday, saying his company would "not accept defeat" and was of ...