Two years after their first deliveries started in China, Tesla Motors has more than tripled their revenues from the PRC.
October 2014 saw the first Tesla EVs roll out to China buyers, and hype was high. But that was short-lived, unfortunately, and some of that fading glory was contributed to by a lack of charging stations, among other things.
In January 2015, Musk made it clear that he was disappointed with the company’s reception in China, saying it was “a lot weaker than expected.” But he also believed that it was a short-lived situation.
That belief has now been validated because revenues in the PRC jumped from $319 million in 2015, to $1.1 billion in 2016. That same time period also saw China’s contribution to global sales nearly double, from 8 percent to 15 percent.
Though Tesla’s impact on China seems to have been delayed by two years, the company’s efforts are finally paying off. Tesla upped its Supercharger footprint in the country from 56 locations in early 2015 to double that – 114 stations – today. The company also has 23 showrooms and 9 service facilities in the nation.
China continues to be a key market for Tesla, and we’ve seen that play out as China emerged as the second highest location for Tesla Model 3 reservations. But it’s a lot more than just car sales.
China represents a massive market for all of Tesla’s products, including power storage and clean energy solutions. It also represents a possible future in car manufacturing and battery production for that part of the world, where there is strong demand for the company’s products.
Tesla is on a roll in China, and Musk will definitely be pinning his hopes once again on one of the biggest potential markets in the world.
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