Photo: Bloomberg
Tesla CEO Elon Musk expressed his admiration for China's aggressive plans to cut carbon emissions, making the country the largest market for electric vehicles. Ultimately, China will become Tesla's largest market and the place where the company will produce the most vehicles, because here they will have the most customers, said the head of the company.
In a short interview with Chinese state television that followed the China Development Forum 2021, Musk said he was impressed by China's carbon targets and the economic and social plan agreed upon earlier this month. He is confident that China's future is very optimistic, as the country is on track to become the world's largest economy and achieve great prosperity.
"I'd like to strike an optimistic note and I'm very confident that the future of China is going to be great and that China is headed towards being the biggest economy in the world and a lot of prosperity in the future."
China has expressed tremendous commitment to a low-carbon economy and the ultimate implementation of sustainable energy. In a new five-year plan, China intends to reach peak carbon emissions before 2030 and aims to be carbon neutral by 2060. Musk is impressed by this very aggressive target. He expressed the hope that more countries will also be able to set these goals.
Musk believes that this goal will make China the largest market for new energy vehicles. This state of affairs will inevitably lead to the fact that ultimately China will become Tesla's largest market and the place where the company will produce the most vehicles, because here Tesla will have the most customers.
"China in the long term will be our biggest market, both where we make the most number of vehicles and where we have the most number of customers."
Tesla filings submitted to the SEC in 2020 show that the company's Chinese market revenue in 2020 reached $6.662 billion YoY, corresponding to 123.6% YoY growth. Thus, China accounted for about a fifth of the company's global revenue of $31.5 billion in 2020.
© 2021, Eva Fox. All rights reserved.
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About the Author
Eva Fox
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.
