China market contributes $1.4 billion US dollars to Tesla in 2Q20
Tesla’s revenue in China reached $1.4 billion US dollars in the second quarter, a year-on-year increase of 102.9%. China continues to be Tesla’s second-largest sales market in the world, accounting for 23.19% of total revenue, according to a document filed to SEC last night.
Tesla has delivered 31,000 vehicles in China in the second quarter this year, accounting for 30% of its global sales, according to China Passenger Car Association (CPCA).
“Model 3 was the best-selling electric vehicle during the second quarter of 2020 in China, where Gigafactory Shanghai allows us to offer locally-produced Model 3 vehicles with industry-leading standard equipment at a lower price point than competing mid-sized premium sedans even before the impact of government or tax incentives.” says Tesla in the document.
“At Gigafactory Shanghai, we have continued to ramp our installed Model 3 capacity, and construction of the next phase to add Model Y manufacturing capacity remains on track.”