Tesla’s China sales more than doubled in 2020

BEIJING — Tesla‘s sales in China more than doubled final yr amid the coronavirus pandemic, in line with a submitting out Monday.

The electrical automobile maker’s sales in China of $6.66 billion final yr accounted for a couple of fifth, or 21% of the $31.54 billion whole.

In 2019, Tesla’s China sales reached $2.98 billion, simply 12% of the $24.58 billion whole.

The U.S. remained Tesla’s largest market, with sales rising 20% final yr to $15.21 billion and accounting for roughly half of whole sales.

Tesla started ramping up manufacturing final yr at its manufacturing unit in Shanghai and promoting China-made vehicles to the native market.

The firm’s Model three was the best-selling electrical automobile in the nation in 2020, in line with China’s Passenger Car Association. The automaker additionally started deliveries of a brand new mannequin, a China-made Model Y, to native prospects this yr.

However, Tesla faces competitors in the native market from Chinese electrical automobile start-ups like Nio and Xpeng, whereas regulatory scrutiny has elevated.

On Monday, China’s State Administration for Market Regulation mentioned on its web site that it and 4 different authorities departments lately met with Tesla’s native subsidiaries over a rise in client stories of car issues.

Among a number of incidents that garnered consideration on Chinese social media in the previous couple of weeks, a Model three reportedly exploded in a Shanghai parking storage in January. Last week, Chinese authorities mentioned Tesla wanted to recall more than 36,000 vehicles on account of a touchscreen failure.