Tesla delivers 17% more EVs from China factory as sales slip for rivals Li Auto, Nio
US carmaker bucks downward trend in first six months as larger government subsidy boost sales
The US carmaker’s Gigafactory 3 in Shanghai delivered 86,697 Model 3 and Model Y vehicles to domestic and overseas buyers in August, up 17 per cent from the previous month and 3 per cent from the same period a year ago, according to the China Passenger Car Association (CPCA).
Despite the rebound, the factory’s deliveries in the first eight months of 2024 fell 6 per cent shy of the 624,983 cars it delivered during the same period last year.
“The Chinese government’s cash subsidy to encourage EV purchases for replacement purposes has benefited Tesla and its local rivals,” said Tian Maowei, a sales manager at Yiyou Auto Service in Shanghai. “As more young drivers prefer electric cars to petrol-driven vehicles, Tesla’s sales in China will remain stable in the coming months.”
In late July, Beijing doubled subsidies granted to EV buyers, just three months after it rolled out incentives to accelerate the transition of the domestic automotive industry.
