Tesla Saw 52% Of 2021 Global Deliveries From Giga Shanghai Alone

Benzinga2022-01-12

Tesla Inc’s Giga Shanghai accounted for more than half of the electric vehicle maker’s global deliveries in 2021, cnEVpostreportedon Wednesday, citing the company.

What Happened:Tesla’s Giga Shanghai delivered 484,130 units last year — a three-fold jump over 2020 — and contributed about 52% volume to the company's global deliveries.

The Elon Musk-led company’s global deliveries jumped 87% to 936,000 electric vehicles last year.

Giga Shanghai shipped out a total of 160,000 electric vehicles last year to meet export demand in over 10 countries, including those in Europe and Asia. It shipped out over 130,000 Model 3s, the most affordable electric sedan in Tesla’s portfolio.

The development comes a day after Tesla’s China sales jumped nearly three-fold to reach a record 70,847 units in December, the report noted, citing China Passenger Car Association data.

Why It Matters:Giga Shanghai commenced production in December 2019, a year after construction began at the site. Built with an investment of $2 billion, the manufacturing site has quickly become a key element in Tesla's production strategy.

Besides Shanghai, Tesla currently makes cars in Fremont, California. Two other plants - Giga Berlin and Giga Texas — are expected to significantly boost production and volumes when they come online.

Price Action:Tesla shares closed 0.6% higher at $1,064.4 a share on Tuesday.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Colise
2022-01-12
Colise
👍
Troytan
2022-01-12
Troytan
China is a big market for Telsa car.
Khoo12
2022-01-12
Khoo12
Yes
JunHaoT
2022-01-12
JunHaoT
Up nia
HH浩
2022-01-12
HH浩
Their operations finally smoothen… more deliveries going fwd
YSF1953
2022-01-12
YSF1953
Ok

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