Tesla's growth in China Continues

July 8, 2020

The investment that the Tesla company decided to make when they built the Shanghai gigafactory has already started to see its return on investment. Sales for the chinese electric vehicle market had a significant drop in June yet Tesla still took the largest chunk. 

We need to take into account that the Fremont California factory was forced to shut down during the second quarter and as a result, Tesla was depending on the performance of the factory in Shanghai to pull a larger weight. 

In the months of April and May, Tesla was able to deliver a little more than 3600 cars, all of them made in china. This was happening while sales saw a record high of 11,000 vehicles. 

As reports come out showing the decreased sales numbers for the electric vehicle market in China in June, Tesla is still coming out on top as they delivered almost 15,000 Model 3’s in June. 

Tesla was able to dominate the chinese electric vehicle market to the point of taking 23% of the market - an astounding figure. 

Another astonishing figure is the fact that Q2 deliveries from china estimated around 30K, representing a third of Tesla’s deliveries worldwide. We must take into account the global pandemic that hit everybody economically, nonetheless, this is showing that the Shanghai Tesla gigafactory was a fantastic investment from the start.

Check the full article here: https://electrek.co/2020/07/08/tesla-capturesf-china-ev-market-sales-drop/

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