Economy

Tesla’s China sales reached more than double in 2020

Beijing- According to a filling out Monday, Tesla’s sales in China is more than double in the amid of pandemic last year.

In China, the electric car maker’s sales of $6.66 billion last year accounted for about a fifth, or 21% of the $31.54 billion total.

In 2019, Tesla’s China sales reached the height of $2.98 billion which is just 12% of the $24.58 billion total. It is found in the last year the U.S. remained Tesla’s largest market, with the sales rising 20% to $15.21 billion and accounting for roughly half of total sales.

Well, Tesla started ramping up production from last year at its factory in Shanghai and selling China-made cars to the local market. According to China’s Passenger Car Association, the company’s Model 3 became the best-selling electric car in the country in 2020. The automaker even started delivering the new model, a China-made Model Y, to local customers in this current year.

On the other hand, Tesla faced lots of competition in the local market from the Chinese electric car start-ups like Nio and Xpeng when the regulatory scrutiny has amplified.

China’s State Administration for Market Regulation on Monday exclaimed on the website that along with the four other government departments currently met with Tesla’s local subsidiaries over an increase in the consumer reports of vehicle glitches.

In the last few weeks, several incidents gathered attention on Chinese social media. In January, a Model 3 reportedly exploded in a Shanghai parking garage. In the last week, due to a touchscreen failure, Chinese authorities mentioned that Tesla needs to reminiscence more than 36,000 cars.

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