Hamartia Antidote
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Tesla becomes the top selling EV brand in China, takes orders for Shanghai made Model Y SUVs - Gizmochina
Tesla, a known automobiles maker, has become the top seller of electric vehicles in China for the first half of this year. The Elon Musk owned company saw great success with its China made Model 3 series, which gave consumers an affordable entry into luxury cars, and is starting to take orders...
www.gizmochina.com
Tesla, a known automobiles maker, has become the top seller of electric vehicles in China for the first half of this year. The Elon Musk owned company saw great success with its China made Model 3 series, which gave consumers an affordable entry into luxury cars, and is starting to take orders for Shanghai built Model Y as well.
In the Chinese market, Tesla managed to double its sales of about 50,000 vehicles from 2019. This news arrives despite the world’s electric vehicle market declining by about 50 percent in the same period, down to 235,000 vehicles sold. According to a Nikkei report, Tesla’s market share jumped from 6 percent to 21 percent, with the majority of this boost coming from the Model 3 sedan.
Tesla began shipping the Model 3 from its Shanghai factory back in January 2020 and it is the company’s most affordable vehicle that goes for about 270,000 Yuan (roughly 39,000 US Dollars). This is after subsidies are applied, which lowered the cost of the same model imported from the US by more than 30 percent. Buyers were also drawn in by the fact that a used Tesla vehicle retains its value better than other electric vehicles.
Furthermore, the company is showing no signs of stopping as it has begun taking orders of another vehicle it built in its Shanghai factory, namely Model Y series SUVs. According to a CaixinGlobal report, the new SUVs will arrive in two different variants, including the long range version and the performance version. The former is priced at 488,000 yuan (roughly 70,800 US Dollars) while the latter is priced at 535,000 yuan (roughly 77,700 US Dollars). The long range variant can travel up to 505 kilometers on a single charge and can accelerate from 0 to 100 kph in 5.1 seconds while the performance variant can reach up to 480 kilometers but can accelerate to 100 kph in only 3.7 seconds.
