Audio By Carbonatix
Tesla has reportedly started delivering locally-produced Model Y crossovers in China, marking another milestone for the electric carmaker in the world’s largest vehicle market.
Deliveries of the China-produced crossover began Monday, according to state-run Xinhua News Agency.
It’s unclear how many Model Y vehicles were delivered or whether they were delivered to employees or to retail customers. Tesla did not immediately respond for comment.
China – the world’s largest EV market – is critically important to Tesla and its growth plans. The company wants to increase its vehicle sales volume from about 500,000 in 2020 to 20 million annually over the next decade.
China was a driving force behind Tesla’s delivery volume in 2020 — the company delivered 499,550 vehicles, an impressive 36% increase compared to a year earlier but slightly below its most recent guidance of 500,000 vehicles.
The company started production of the Tesla Model 3 sedan at its Gigafactory in Shanghai, China – its first plant outside the U.S. – in late 2019.
Deliveries to Chinese customers of Model 3 started a little more than a year ago. Since then, Tesla CEO Elon Musk has become the world’s richest person thanks to a massive 700% gain in the company’s stock.
Tesla built its $2 billion Shanghai plant in just under a year, a rapid timeframe for the global automotive industry. Automakers establish local vehicle production to lower shipping costs and avoid import duties or delays, especially in China.
Latest Stories
-
Ghanaian winger Nana-Kofi Donkor completes move to AIK
7 minutes -
We have adequate reserves to stabilise and protect the cedi’s value – BoG Governor assures
9 minutes -
Ghana midfielder Iddrisu Baba joins Partizan Belgrade on loan from Almería
20 minutes -
Helicopter crash: Tribute by Lands Minister Armah-Kofi Buah — A Year of silence, a call to purpose: Honouring our 8 fallen patriots
29 minutes -
“Nobody will have time to read your petition; it doesn’t make sense” – Mustapha Gbande tells NPP
32 minutes -
Health Ministry develops AI policy to guide safe use of artificial intelligence in Ghana’s healthcare system
36 minutes -
Defender Magazine to preserve Omane Boamah’s legacy of service and integrity – Ato Forson
2 hours -
Abomosu STEM SHS grabs final Eastern Region NSMQ slot after dramatic tie-breaker triumph
2 hours -
Woman jailed 3 years for abducting eight-month-old baby at Kpando Market
2 hours -
It’s disrespectful to send Nana Yaa Jantuah, a third-tier presidential staffer to receive petition – Nana B
2 hours -
Trump denies US weapons shortage and says information ‘leakers’ being ‘hunted down’
2 hours -
South Korea space agency shares Moon images after SpaceX rocket debris crash
2 hours -
EasyJet agrees to £5.7bn takeover by US firm
2 hours -
Thousands of migrants still in Ceuta after border crisis, local leader says
2 hours -
TikTok star Sydney Towle, who shared her cancer journey online, dies aged 26
2 hours