Government News
Tesla’s Aug sales show potential of Chinese market 2024-09-05
Made-in-China Tesla cars wait to be shipped overseas outside its factory in Shanghai.
In August, US-based Tesla set a new monthly sales record for the year in China, with shipments from its Shanghai Gigafactory rising for the second straight month. Experts see this boost as a strong indicator of the expanding business potential for foreign investors in the vast Chinese market.
China is speeding up its opening-up and green transition efforts. Tesla's success in China exemplifies the country's commitment to free trade, fair market treatment for foreign firms and ample business opportunities, experts noted.
The US electric vehicle (EV) giant's sales in China surpassed 63,000 units in August, up 37 percent month-on-month and a new record for the year, solidifying its position as the top luxury car seller in the country, according to a statement Tesla sent to the Global Times on Tuesday.
Tesla's Shanghai Gigafactory also achieved a 17 percent increase in deliveries for the second month in a row, reaching 86,697 units, according to the China Passenger Car Association (CPCA).
This upturn came after a sales slowdown earlier in the year due to stiff competition from rising Chinese brands, suggesting that Tesla's sales momentum is on the upswing, Cui Dongshu, secretary-general of the CPCA, told the Global Times on Tuesday.
Chinese domestic EV brands also delivered record-setting results in August. BYD sold a record of 373,100 NEVs in August and Li Auto's delivery up 37.8 percent month-on-month, said reports.
In recent years, China has been actively creating a unified national market and pursuing high-level opening-up, fostering a welcoming and level playing field for foreign investors, Li Yong, a senior research fellow at the China Association of International Trade, told the Global Times on Tuesday.
"This contrasts sharply with the unilateral pressure exerted on Chinese companies by some Western countries," Li noted.
In late August, Canada followed the US and Europe in a politically motivated move to impose 100 percent additional tariffs on Chinese EVs.
Source: Global Times
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