Featured image: Tesla China
2020 has been a strong year for Tesla in China. The popularity of the company's vehicles continues to grow along with the expansion of production facilities. With its Model 3, Tesla has been the top-selling electric vehicle manufacturer in China several times, attracting particular attention in the country's major cities. And now, for the first nine months of this year, Tesla is the best-selling brand among New Energy Vehicles (NEW), including hybrids in Shanghai.
According to the data, Shanghai is already the largest market for Tesla in China, and its potential has yet to be fully tapped. Between January and September, 16,087 Model 3s were sold there, making it the best-selling vehicle among all EVs and gas-powered cars. This number of models sold in just one city of the world speaks volumes.
Shanghai ma be the biggest market for Tesla in 🇨🇳. In Jan thru Sept, 16,087 Model 3s were sold, far outpacing the distant 2nd, ICE or EV. The recent policy restricting non-Shanghai registered vehicles may have a huge impact on Model 3 sales. Store🦶traffic is up a lot lately. pic.twitter.com/JXRdcAsnhK— Ray4️⃣Tesla⚡️🚘☀️🔋 (@ray4tesla) October 28, 2020
The China Passenger Car Association data by brand also indicates that Tesla is a strong leader among the NEV. The company sold 16,843 vehicles in Shanghai in 2020, making it its top-selling brand. It is followed by SAIC, with a lag of 3,400 units, which sold 13,443 cars. In third place is BYD with 6,705 registered cars. The rest of the manufacturers have sold a small number of cars compared to Tesla and therefore have not had--at least thus far--a significant impact on the situation.
Tesla reported that Model 3 production capacity in Giga Shanghai has increased to 250,000 units a year. The company reduced the price of Model 3 to 249,900 RMB after incentives, making it the lowest-priced premium mid-sized sedan in China. This was enabled both by lower-cost batteries and an increased level of local procurement. As a result of this shift in cost and starting price, Tesla recently added a third production shift to its Giga Shanghai, which will further boost the production of Model 3 and its popularization in the country and abroad.
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