Tesla Inc. monthly shipments of China-made vehicles rebounded to record in June. The US electric vehicle pioneer delivered 78,906 vehicles last month, well over double the 33,155 in the same period a year ago and up 145% month-on-month, data from China’s Passenger Car Association showed Friday. An unprecedented 77,938 of the EVs made in June went into the local market, while just 968 were shipped abroad.
While June was a bumper month for Tesla, shipments for July may not be so hot. In efforts toramp up outputfrom Shanghai longer term, the company plans to partly suspended manufacturing capabilities at various points through early August to upgrade production lines.
Upgrade work at the factory south of Shanghai is expected to be complete by around Aug. 7, with output of the Model Y SUV then increased to 14,000 units a week, from about 11,000 pre-pandemic, and production of the Model 3 sedan at 7,700 units a week from 5,500 previously, people familiar with the matter said last month.
BYD Co., the Chinese automaker backed by Warren Buffett, put in a strong showing in June too, delivering 133,762 new-energy cars, including pure electric models and hybrids.
China in Maycut the purchase taxlevied on some low-emission passenger vehicles by half, building on previously announced measures to support businesses and consumer spending. Several local governments and automakers have since pitched in with subsidies and incentives to entice buyers.
Shares of Tesla fell 0.44% in premarket trading.
Comments