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Tesla's China revenue soars in Q2

chinadaily.com.cn | Updated: 2020-07-29 11:26
People check a Tesla Model X sport utility vehicle at a new Tesla showroom in Shanghai, May 8, 2020. [Photo/Agencies]

Tesla reported revenue of $1.4 billion in China in the second quarter, soaring 102.9 percent year-on-year and accounting for 23.19 percent of the total, The Paper reported, citing a filing with the United States Securities and Exchange Commission.

During the first six months, Tesla reported $2.3 billion in revenues in China, accounting for 19.13 percent of the total $12.02 billion.

Tesla delivered 31,000 electric vehicles to China-based customers in the second quarter, accounting for one-third of its global sales, according to the China Passenger Car Association.

According to the filing, Tesla reported revenue of $3.09 billion in the United States, down 11.2 percent year-on-year and accounting for 51.19 percent of the total. China and other markets outside the US contributed $1.55 billion, down 29.08 percent year-on-year.

Due to the COVID-19 epidemic, Tesla's only US assembly plant, the Fremont factory in California, shut down for nearly six weeks, while the Shanghai gigafactory made a great contribution to the electric carmaker.

Last week, Tesla said it earned net income of $104 million for April to June, marking the first time the company has posted a profit for four straight quarters. The company delivered more than 90,000 vehicles in the second quarter, surpassing analyst expectations.

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