Tesla’s Second-Quarter China Revenue More Than Doubles
Dou Shicong
DATE:  Jul 28 2021
/ SOURCE:  Yicai
Tesla’s Second-Quarter China Revenue More Than Doubles Tesla’s Second-Quarter China Revenue More Than Doubles

(Yicai Global) July 28 -- Tesla’s operating revenue in China, the US electric carmaker’s second-biggest market, surged 104 percent in the second quarter from a year earlier.

Revenue in the country was USD2.86 billion in the three months ended June 30, according to an earnings report the California-based company issued yesterday.

For the first half, revenue was USD5.9 billion, a 150 percent increase, accounting for 26.4 percent of Tesla’s global income compared with 19.1 percent a year ago.

Tesla delivered 386,181 vehicles globally over the first six months of the year, the report said. It sold 161,743 in China, per statistics from the China Passenger Car Association.

Despite the impact from supply chain and factory upgrade, production at Tesla’s Shanghai plant remained robust, with annual production now above 450,000 units, Telsa said.

“Due to strong US demand and global average cost optimization, we have completed the transition of Gigafactory Shanghai as the primary vehicle export hub,” it added.

The plant went into operation at the end of 2019 and was Tesla’s first outside the United States. It began exporting last October and shipped 31,000 vehicles overseas in the second quarter, accounting for about a third of China’s total new energy vehicle exports in the period, according to CPCA data.

Editor: Peter Thomas

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Keywords:   Tesla,Shanghai Gigafactory