Category: Tesla

Tesla CEO Elon Musk expected to visit China this week, report says

Musk is expected to meet with senior Chinese officials and tour 's Shanghai factory, according to Reuters.

(Image credit: CnEVPost)

Tesla (NASDAQ: TSLA) CEO Elon Musk is expected to visit China this week, Reuters said in a report today, citing three people familiar with the matter.

Musk is expected to meet with senior Chinese officials and tour Tesla's Shanghai factory, two of the sources said, according to the report.

It's unclear who Musk will meet with and what they will discuss, the report noted.

A Reuters report on March 31 said Musk planned to visit China as early as April and seek a meeting with Chinese Premier Li Qiang.

The Tesla CEO last visited China in January 2020, when he showed off a dance during the delivery of Tesla's first China-made Model 3 electric vehicles (EVs).

China is Tesla's second-largest market after the United States, and its Shanghai plant is the EV maker's largest production center, producing the Model 3 sedan as well as the Model Y crossover.

For all of 2022, the Chinese market contributed $18.1 billion in revenue to Tesla, or 22 percent of its $81.5 billion in total revenue, according to its 10-K filing with the SEC on January 31.

The US market contributed $40.6 billion in revenue, or 49.8 percent, to Tesla in 2022.

For the full year 2022, Tesla delivered 1,313,851 vehicles worldwide, up 40.38 percent from 935,950 in 2021.

The EV maker delivered 439,770 vehicles in China in 2022, contributing 33 percent of the year's deliveries, data monitored by CnEVPost show.

Tesla's Shanghai plant produced 727,000 units in 2022, up 49.7 percent from a year earlier, Chen Kele, deputy director of intelligent manufacturing promotion division at Shanghai Municipal Commission of Economy and Informatization, said earlier this month.

Tesla's Shanghai plant had an industrial output of 183.9 billion yuan ($26 billion) in 2022, which accounts for 23 percent of Shanghai's auto manufacturing output, driving 1.3 percentage points of local industrial output growth, Chen said.

Shanghai will further deepen cooperation with Tesla to promote the EV maker's businesses including self-driving, and robotics in Shanghai, he said at the time.

From January to April, Tesla delivered 177,385 vehicles in China, up 61.54 percent year-on-year, according to the China Passenger Car Association (CPCA).

Tesla's Shanghai plant exported 127,779 vehicles in January-April, up 72.97 percent year-on-year.

In addition to its EV business, Tesla is bringing its other major business -- energy storage -- to China.

Tesla signed a deal with Shanghai's Lingang authorities on the afternoon of April 9 to build a new Megafactory in the area, which will be dedicated to producing Tesla's energy storage product Megapack, according to a previous announcement from Lingang's special area administration.

The Megafactory will be Tesla's first energy storage system factory outside its US home market, with an initial planned annual production of up to 10,000 units of commercial energy storage batteries and an energy storage scale of nearly 40 GWh, with products to be supplied to the global market.

The factory is scheduled to start construction in the third quarter of this year and put into operation in the second quarter of 2024.

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Musk once laughed at BYD, but now thinks 'their cars are highly competitive'

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Musk once laughed at BYD, but now thinks ‘their cars are highly competitive’

"That was many years ago. Their cars are highly competitive these days," Musk said.

A video of (NASDAQ: TSLA) CEO Elon Musk laughing when asked about (OTCMKTS: BYDDY) in an interview has sparked widespread discussion on social media from time to time.

Now, as the video has sparked renewed buzz on Twitter, Musk has responded.

"That was many years ago. Their cars are highly competitive these days," Musk said in a May 27 reply below a video shared by Tesla Owners Silicon Valley on Twitter.

In a 2011 interview, a Bloomberg host mentioned that Tesla began to have competitors, such as BYD, which was ramping up.

Musk laughed at those words and asked the host if she had seen BYD's cars.

Musk's reaction at the time was understandable; after all, BYD was just a Chinese car company targeting the lower end of the market in 2011 and was far less well-known than it is now.

Even in 2019, BYD's annual sales of only 461,400 units across all models are nowhere near the 2 million sales of SAIC Volkswagen in the same year.

BYD saw explosive sales growth in 2021 and stopped production and sales of vehicles powered entirely by internal combustion engines in March 2021.

BYD sold 1,863,494 new energy vehicles (NEVs) in 2022, up 208.64 percent from 603,783 in 2021.

For comparison, Tesla delivered 1,313,851 vehicles worldwide in 2022, up 40.38 percent from 935,950 in 2021.

In the first quarter of the year, BYD sold 547,917 passenger NEVs, up 92.81 percent year-on-year, including 264,647 battery electric vehicles (BEVs) and 283,270 plug-in hybrid vehicles (PHEVs).

Tesla's vehicles were all BEVs, delivering 422,875 units in the first quarter, up 36.39 percent year-on-year.

Ford CEO Jim Farley expressed similar opinions on May 26, calling Chinese electric vehicle (EV) makers its main competitors in the segment.

Farley said that China has some of the best battery technology and is dominating EV production at the Morgan Stanley Sustainable Finance Summit.

He used BYD as a prime example of a Chinese automaker that has successfully developed and sold EVs, first in China and now in Europe.

"I like BYD. Totally vertically integrated, aggressive … very, very impressive company. And they were always committed to electric," Farley said when asked which company was doing the right thing in making EVs.

Tesla delivers 39,956 vehicles in China in Apr, exports 35,886 units from Shanghai plant

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Tesla’s Superchargers will open to Ford EVs in spring 2024

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Continue reading Tesla's Superchargers will open to Ford EVs in spring 2024

Tesla's Superchargers will open to Ford EVs in spring 2024 originally appeared on Autoblog on Thu, 25 May 2023 17:03:00 EDT. Please see our terms for use of feeds.

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Tesla Model X is the most-driven EV, Porsche Taycan stays parked

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Continue reading Tesla Model X is the most-driven EV, Porsche Taycan stays parked

Tesla Model X is the most-driven EV, Porsche Taycan stays parked originally appeared on Autoblog on Tue, 23 May 2023 16:04:00 EDT. Please see our terms for use of feeds.

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China NEV insurance registrations for week ending May 21: Li Auto 7,100, XPeng 1,500, NIO 1,400

This article is being updated, please refresh later for more content.

vehicles registered 10,200 insurance units in China last week, bringing the number to 26,118 for the first three weeks of May.

founder, chairman and CEO Li Xiang said last week that they had been complained about by some of their peers and therefore could not continue to share the weekly insurance registration numbers.

Interestingly, however, the company resumed sharing those numbers today to continue to show that it leads the pack among Chinese new energy vehicle (NEV) startups.

For the week of May 15 to May 21, Li Auto sold 7,100 units, far outpacing other new car brands and reigning as the weekly sales leader for new automaking brands in the Chinese market, the company said today on Weibo.

Li Auto did not explain on what basis the sales were counted, but apparently, they were insurance registrations.

Li Auto surpassed all other traditional luxury brands except Mercedes-Benz, BMW and Audi to remain in the top five luxury brands in the Chinese market in terms of sales, the highest-ranked Chinese brand on the list, it said.

In the first two weeks of May, Li Auto vehicles had 4,543 and 6,670 insurance registrations, respectively. This means that from May 1 to May 21, Li Auto sold about 18,313 vehicles.

The tables Li Auto shared today show that vehicles had 1,400 insurance registrations last week. This means that NIO had 3,700 insurance registrations for the first three weeks of May.

NIO deliveries continue to be curbed by the upcoming launch of the new ES6, with insurance registration figures of 1,100 and 1,200 in the first and second weeks of May, respectively.

NIO will officially launch the new ES6 on May 24, and its deliveries will start on May 25.

The company is getting the ES6 to market with unprecedented delivery efficiency, and as of May 20, the new ES6 show cars were available at nearly 300 NIO stores in 92 cities.

registered 1,500 insurance units last week, the same as the previous week. In the first three weeks of May, XPeng vehicles had 3,870 insurance registrations.

XPeng deliveries were also dampened by the new model G6, which is expected to officially launch and begin deliveries at the end of next month.

Insurance registrations for Tesla vehicles in China were 10,200 last week, bringing the figure to 26,118 for the first three weeks of May. The number was 5,928 and 9,990 in the first two weeks of May.

Data table: China NEV weekly insurance registrations

The post China NEV insurance registrations for week ending May 21: Li Auto 7,100, XPeng 1,500, NIO 1,400 appeared first on CnEVPost.

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Tesla offers China-made Model 3 and Model Y in Canada, report says

Both models are eligible for a C$,000 federal incentive in Canada.

(Screenshot of Canada website.)

Tesla (NASDAQ: TSLA) is listing China-made Model 3 and Model Y electric vehicles (EVs) for sale in Canada, confirming that it has completed its first shipments to North America from its Shanghai plant, according to a Reuters report today.

The rear-wheel drive Model Y and the long-range all-wheel drive version of the Model 3 are available for immediate delivery in British Columbia, with codes indicating they were built at Giga Shanghai, the report said.

Both models are eligible for a C$5,000 ($3,695) federal incentive in Canada, which, unlike the US, does not link EV subsidies to the location of the plant where the cars are built, the report noted.

Tesla and other EV makers have a cost advantage in China, and exports to Canada have opened up a new market for Giga Shanghai, the report said.

(Screenshot of Tesla Canada website.)

The company has designed and tested Model Y cars for export to North America and aims to produce nearly 9,000 for export this quarter, the report said, citing a Tesla production plan.

On April 24, Reuters cited people familiar with the matter and a production memo as saying that Tesla had begun production in Shanghai of the Model Y that will be sold in Canada this year.

It will be the first time the company has shipped cars from China to North America, a move that will connect Tesla's largest and most cost-effective factory in the world with its largest market, North America, the report said.

Tesla's Shanghai plant, which makes the Model 3 as well as the Model Y, not only supplies vehicles to local consumers but is also an export center for the EV maker.

Tesla delivered 39,956 vehicles in China in April, and the Shanghai plant exported 35,886, according to data released earlier this month by the China Passenger Car Association (CPCA).

For the full year 2022, Tesla delivered 439,770 vehicles in China, up 37.11 percent from 320,743 vehicles in 2021.

Tesla's Shanghai plant exported 271,095 vehicles in 2022, according to data monitored by CnEVPost.

Tesla's Shanghai plant produced about 727,000 units in 2022, up 49.7 percent from a year earlier, contributing 23 percent of Shanghai's auto manufacturing output, a local official said earlier this month.

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Tesla's revamped Model 3 nears final trial production in Shanghai, report says

The post Tesla offers China-made Model 3 and Model Y in Canada, report says appeared first on CnEVPost.

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