Tesla CEO Elon Musk praised Chinese electric vehicle makers on a Tesla earnings call on Wednesday, saying “we have a lot of respect for the current companies in China and their capabilities.” Musk also told investors on the call that he believes Chinese EV brands will become a competitive “force to be reckoned with worldwide” while commending Tesla’s own employees in the country, saying the company has an “incredible team in China.” The US automaker reported $16.9 billion in revenue for the second quarter of 2022, up 42% from a year earlier, although profit dropped 32% to $2.26 billion from the previous quarter due to supply chain issues and Covid lockdowns in China. [TechNode reporting]