First people said "competition is coming" for about a decade. Now the competition has finally half arrived, but it's still so far behind. Perhaps the closest is BYD, but most BYD drivers would prefer to be driving a Tesla.
That said, BYD is outcompeting most other Chinese players as well, and it can be argued that this is due to the fact that BYD is also a private sector player unlike most of it's domestic competitors.
The only competitor in China that can compete against BYD is SAIC - an SOE owned by Shanghai's government.
That said, the EV glut has become a significant headache from a local government fiscal perspective - the majority of Chinese automotive companies are owned by state and local governments - a large number of whom ended up spending eye bleeding amounts of yuan on EVs despite no competitive advantage, and it's these state and local governments that are now increasingly holding the bag - which Chinese market regulators have increasingly raised red flags about [0] (and I myself foreshadowed on HN a couple times [1][2]).
[0] - https://www.bloomberg.com/news/terminal/T3V4AWMB2SJX
[1] - >>41275593
[2] - >>41275541
Which is kind of exciting if you don't care about IP law.
Likewise their CR series/Fuxing high speed trains seem to be quite nice. They were spawned off their experience working on Euro/Japanese trains https://en.wikipedia.org/wiki/Fuxing_(train)