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Tesla’s EV Revenue Triples in China
Tesla Inc.’s revenue from the sale of electric cars in China tripled to more than $1 billion last year, offsetting a 33% drop from 2014 to 2015, according to a regulatory report.
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Tesla Inc.’s revenue from the sale of electric cars in China tripled to more than $1 billion last year, offsetting a 33% drop from 2014 to 2015, according to a regulatory report.
The company’s U.S. sales revenue more than doubled in 2016 to $4.2 billion.
The Tesla Model S electric sedan debuted in China in 2014. But began strong but then faltered on complaints of slow deliveries, worries about a shortage of charging facilities and what the company described as a “brain-dead” China sales team. CEO Elon Musk revealed in 2015 that speculators had created phantom demand for the car, resulting in excess inventory.
Demand has since revived after a staff overhaul, Tesla’s vow to install a network of its Supercharger quick-charge stations and government support for the EV market. The Model S retails in China at a tariff-inflated price of more than $121,000.
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