Tesla posts strong EV sales amid talks to launch China output
Tesla Motors Inc. posted its strongest quarterly sales in China this year during the three months ended September, and the company is in talks to launch production in China.
Tesla sold 1,345 vehicles in China in the third quarter, after selling 797 vehicles in the first and 883 in the second. For the first nine months, Tesla sold 3,025 vehicles in China, said Gary Tao, the company's Beijing-based spokesman.
Tesla CEO Elon Musk disclosed the company's sales and production plans to Chinese media during a trip to Beijing last week.
Musk said adding local output had the potential to slash vehicle prices by a third.
Negotiations with officials on Chinese production have been quite encouraging and it is likely Tesla will cooperate with a local partner, Musk said, according to the company's transcripts of his remarks.
Musk also said Tesla is working with Chinese Internet company Baidu Inc. on GPS navigation and automated driving.
Foreign automakers are required to establish a joint venture with a Chinese company to produce cars domestically.
Tesla's annual sales in China could match U.S. volumes in five to six years, Musk said in an interview with the official Xinhua News Agency. The automaker plans to start sales of the new Model X crossover in China in the first half of 2016.
China accounted for 11 percent of Tesla's global deliveries in the third quarter. Last month, Beijing's municipal government approved Tesla's application to participate in a special license plate lottery system for electric vehicles.
The California-based automaker has struggled with weak sales in China, leading to job cuts this year. According to local media, Tesla laid off 30 percent of its Chinese payroll of 600 employees.
Tesla CEO Elon Musk disclosed the company's sales and production plans to Chinese media during a trip to Beijing last week.
Musk said adding local output had the potential to slash vehicle prices by a third.
Negotiations with officials on Chinese production have been quite encouraging and it is likely Tesla will cooperate with a local partner, Musk said, according to the company's transcripts of his remarks.
Musk also said Tesla is working with Chinese Internet company Baidu Inc. on GPS navigation and automated driving.
Foreign automakers are required to establish a joint venture with a Chinese company to produce cars domestically.
Tesla's annual sales in China could match U.S. volumes in five to six years, Musk said in an interview with the official Xinhua News Agency. The automaker plans to start sales of the new Model X crossover in China in the first half of 2016.
China accounted for 11 percent of Tesla's global deliveries in the third quarter. Last month, Beijing's municipal government approved Tesla's application to participate in a special license plate lottery system for electric vehicles.
The California-based automaker has struggled with weak sales in China, leading to job cuts this year. According to local media, Tesla laid off 30 percent of its Chinese payroll of 600 employees.
