China

Tesla to Double Its Investment & Future Plans in the Chinese Market, per VP

Tesla to Double Its Investment & Future Plans in the Chinese Market, per VP

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Tesla will double its investment and future development plans in the Chinese market, the company's VP in China said. The manufacturer plays a key role in helping the country achieve carbon neutrality by 2060.

In its speech at the 2022 Wuzhen Summit World Internet Conference, Tesla said it will double its investment and future plans in the Chinese market. The company will continue to capitalize on the growing electric vehicle business and step up efforts to promote the clean energy transition in China and around the world. The manufacturer said it hopes to contribute through its solutions and products to China's goals of peaking carbon emissions by 2030 and achieving carbon neutrality by 2060, China Daily reported.

The Chinese electric vehicle market is booming and is becoming increasingly attractive to electric vehicle manufacturers, said Tesla China's Vice President of Foreign Affairs, Grace Tao. She said sales of electric vehicles in China continue to outstrip those of fuel-powered vehicles, which has become an unstoppable trend. Charging infrastructure improvements are making EVs even more popular.

“We hope to play a bigger role in China's achieving carbon goals with our sustainable concept and products. Meanwhile, Tesla also hopes to tap the growing EV market of China, the world's most populous country, to further our mission of 'accelerating the world's transition to sustainable energy,’” Tao said.

Giga Shanghai remains the manufacturer's main export hub, helping the company build on rapidly growing global sales. In the first 10 months of this year, the factory's total exports reached 219,427 units.

Tesla said it will increase its contribution to the development of electric vehicles in China, for which it already has a research and development center in Shanghai. Tao said more than 95 percent of Tesla vehicle parts are made in China, which has boosted the country's manufacturing industry and industrial chains.

“Tesla attaches great importance to the Chinese market and consumer demand. The company has been stepping up efforts to offer improved charging solutions for Chinese consumers. It also strives to improve services, from consulting and purchasing to after-sales service, with the support of science and technology,” Tao said.

© 2022, Eva Fox | Tesmanian. All rights reserved.

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About the Author

Eva Fox

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.

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