Tesla announced earlier this month that its 2016 China sales broke US$1.1 billion, or 15% of the company’s total. CNBC reports that the firm shipped 12,000 cars last year, five times the number from the previous year, according to JL Warren Capital estimates. While Tesla’s entry into the China market has disappointed so far, it seems that favorable policies are starting to boost Musk’s vision to tap the coveted Chinese auto market.
Tesla Model S. Photo: Reuters, Jason Reed
China new energy vehicle policies drive Tesla success
The group quintupled car shipments to China in 2016