Tesla faces strong competition in China

T

Tesla feels the strong competition on the Chinese car market. The Americans saw the number of registrations of new vehicles on the world’s largest car market in July drop by almost a quarter compared to a month earlier.

In July, 11,456 new Teslas were registered, according to figures from the Chinese authorities. These vehicles have recently been rolling out of the so-called Chinese gigafactory of the automaker, which does not report monthly figures from China itself. Tesla has recently been working on stepping up his production.

China is an important part of Tesla’s strategy to boost sales outside the United States. In China, Tesla competes with the Chinese NIO and world brands such as BMW and Volkswagen in the electric driving market.

NIO saw the number of deliveries quadrupled in July to over 3,500 deliveries. The brand stands for the launch of a new model. BMW, Mercedes-Benz and Daimler also put more and more electric models in the market.

About the author

Oliver I. Kjeldsen

Oliver I. Kjeldsen has a corporate finance and extensive expertise in company audit. He grants us amazing insights on taxation, international affairs and friendly advice on nearly any topic of interest. His email is [email protected]

Add comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recent Posts

Categories