Tesla rises on record China sales in August 2024

Full story: https://grafa.com/news/auto-and-cars-tesla-rises-on-record-china-sales-in-august-2024-272430

Tesla's shares (NASDAQ:TSLA) climbed 2.3% to $215.62 in premarket trading, buoyed by positive news from its key market in China.

New energy vehicle sales in China surged 43.2%, accounting for a record 53.5% of total car sales.

While BYD set a sales record, Tesla recorded its best month of the year, exporting 23,241 China-made vehicles in August.

In another boost to Tesla, its supplier, Panasonic Energy, has completed preparations for mass-production of high-capacity EV batteries, a crucial development for Tesla's electric vehicle lineup.

However, despite these gains, Tesla's share price remains down around 15% for the year as of the last close.

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