No, this is not the reason that Tesla is "pivoting away from EVs". Chinese automakers are struggling because their business model is to sell low-priced EVs at low margin at volume, because they can't compete with Tesla up market. Tesla continues to make decent margins at these elevated price points. The reason Tesla is not so concerned about EVs is because it has other juicy alternatives to extract higher margins from the batteries it consumes to make its products. For example, the Energy business makes much higher margins than the auto business. The Robotaxi business, though still nascent, will attract SAAS margins, of the order of 80%, which compared to the ~16% margins on autos makes the pivot somewhat of a no-brainer.