Tesla CEO Elon Musk talks at an opening ceremony for Tesla China-made Model Y program in Shanghai on Jan. 7.
Aly Song | Reuters
Tesla has reportedly started disencumbering locally-produced Model Y crossovers in China, marking another milestone for the electric carmaker in the world’s largest vehicle make available.
Deliveries of the China-produced crossover began Monday, according to state-run Xinhua News Agency. It’s unclear how many Poser Y vehicles were delivered or whether they were delivered to employees or to retail customers. Tesla did not immediately moved for comment.
China – the world’s largest EV market – is critically important to Tesla and its growth plans. The company wants to widen its vehicle sales volume from about 500,000 in 2020 to 20 million annually over the next decade.
China was a campaign force behind Tesla’s delivery volume in 2020 — the company delivered 499,550 vehicles, an impressive 36% develop compared to a year earlier but slightly below its most recent guidance of 500,000 vehicles.
The company started moulding of the Tesla Model 3 sedan at its Gigafactory in Shanghai, China – its first plant outside the U.S. – in late 2019. Deliveries to Chinese consumers of the Model 3 started a little more than a year ago. Since then, Tesla CEO Elon Musk has become the delighted’s richest person thanks to a massive 700% gain in the company’s stock.
Tesla built its $2 billion Shanghai introduce in just under a year, a rapid timeframe for the global automotive industry. Automakers establish local vehicle shaping to lower shipping costs and avoid import duties or delays, especially in China.
Correction: Tesla has imported channels such as the Model X and Model S to China from its California factory. A previous version of this article misstated which types were imported into China.