U.S. EV giant Tesla Inc sold 70,847 China-made vehicles in Dec., the highest monthly pace since it began manufacturing in Shanghai, according to a report by Reuters on Tuesday.
- Tesla’s December sales were nearly three times the figures posted in the same month last year and was 34% higher than November’s figures.
- Tesla’s Shanghai factory manufactures electric Model 3 sedans and Model Y sport-utility vehicles for local and international markets, including Japan and Germany.
- The automaker stated that during its Q3 results in October that the Shanghai plant’s yearly output surpassed 450,000 vehicles.
- China’s EV market is largely dominated by domestic brands, including BYD and Wuling. Tesla is only the foreign brand in the top 10.
- The CPCA stated that Chinese EV Maker Nio Inc delivered 10,489 cars the prior month, a year-on-year increase of 49.7%.
CPCA further reported that passenger car sales in December in China amounted to 2.14 million, a 7.7% decrease from a year earlier. TSLA up +1.18%, Pre-market trading