News
Tesla dominates China’s EV exports with 14,174 Model 3 on top of 25,845 local sales
Following a blockbuster March that saw Tesla China selling an impressive 35,478 vehicles domestically, the EV maker continued to hit its rhythm in April 2021. This was evident in Tesla’s total sales of 40,019 vehicles, comprised of 25,845 units sold domestically and 14,174 exported to other territories. With these results, Tesla China effectively dominated the country’s EV exports for April 2021.
The data, which was released recently by the China Passenger Car Association (CPCA), shows that Tesla could maintain its strength in the market despite a wave of controversies and negative media coverage. Tesla China was embroiled in a series of issues last month, the most notable of which was a high-profile protest at the Shanghai Auto Show and rumors that the company’s vehicles had faulty brakes. These rumors were later debunked by the real-world performance of Tesla’s brakes in multi-vehicle accidents.
Top 3 wholesale volumes of new energy passenger vehicles in April in China (data from CPCA):
1. SAIC-GM-Wuling: 30,602
2. #Tesla China: 25,845
3. BYD: 25,450Top 3 exporters:
1. $TSLA China: 14,174
2. SAIC Motors: 2,378
3. AIWAYS: 335 pic.twitter.com/wwP2vVYiap— 42HOW (@42how_) May 11, 2021
That being said, Tesla China’s domestic sales did drop 27% compared to March 2021, though this is likely not due to a lack of demand. Instead, the notable drop in Tesla’s domestic sales was most due to the 14,174 vehicles that were exported to other territories. Without the exported cars from March, Tesla China might have broken its domestic sales records in March.
But even with its 27% drop in domestic sales, Tesla China’s local numbers are still up 611% year-over-year. That’s impressive growth either way, especially considering that Gigafactory Shanghai has only just begun the production ramp of the Made-in-China Model Y. Considering that the Model Y is expected to outsell the already-formidable Model 3 due to its crossover design, there is a good chance that Tesla China’s numbers over the next few months would likely be even more impressive.
New Energy Vehicles seem to be hitting their stride in China. Just like Tesla, companies like NIO have seen strong year-over-year growth. Earlier this month, NIO reported that it had delivered 7,102 vehicles in April, a 125.1% increase YoY. Xpeng Motors, on the other hand, delivered 5,147 cars last month, an increase of 285% year-over-year. Li Auto, another up-and-coming player in China’s EV space, reported sales of 5,539 units in April, an increase of 111.3% YoY.
Exports-wise, however, the race was not even close. Tesla’s 14,174 vehicles sent to other countries stood unrivaled at the top. Its closest challenger was SAIC Motors, which exported 2,378 vehicles in April, and third place is Aichi Auto, which exported 335 EVs over the month.
The China Passenger Car Association’s April sales report could be viewed here.
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Elon Musk
Elon Musk confirms xAI’s purchase of five 380 MW natural gas turbines
The deal, which was confirmed by Musk on X, highlights xAI’s effort to aggressively scale its operations.
xAI, Elon Musk’s artificial intelligence startup, has purchased five additional 380 MW natural gas turbines from South Korea’s Doosan Enerbility to power its growing supercomputer clusters.
The deal, which was confirmed by Musk on X, highlights xAI’s effort to aggressively scale its operations.
xAI’s turbine deal details
News of xAI’s new turbines was shared on social media platform X, with user @SemiAnalysis_ stating that the turbines were produced by South Korea’s Doosan Enerbility. As noted in an Asian Business Daily report, Doosan Enerbility announced last October that it signed a contract to supply two 380 MW gas turbines for a major U.S. tech company. Doosan later noted in December that it secured an order for three more 380 MW gas turbines.
As per the X user, the gas turbines would power an additional 600,000+ GB200 NVL72 equivalent size cluster. This should make xAI’s facilities among the largest in the world. In a reply, Elon Musk confirmed that xAI did purchase the turbines. “True,” Musk wrote in a post on X.
xAI’s ambitions
Recent reports have indicated that xAI closed an upsized $20 billion Series E funding round, exceeding the initial $15 billion target to fuel rapid infrastructure scaling and AI product development. The funding, as per the AI startup, “will accelerate our world-leading infrastructure buildout, enable the rapid development and deployment of transformative AI products.”
The company also teased the rollout of its upcoming frontier AI model. “Looking ahead, Grok 5 is currently in training, and we are focused on launching innovative new consumer and enterprise products that harness the power of Grok, Colossus, and 𝕏 to transform how we live, work, and play,” xAI wrote in a post on its website.
Elon Musk
Elon Musk’s xAI closes upsized $20B Series E funding round
xAI announced the investment round in a post on its official website.
xAI has closed an upsized $20 billion Series E funding round, exceeding the initial $15 billion target to fuel rapid infrastructure scaling and AI product development.
xAI announced the investment round in a post on its official website.
A $20 billion Series E round
As noted by the artificial intelligence startup in its post, the Series E funding round attracted a diverse group of investors, including Valor Equity Partners, Stepstone Group, Fidelity Management & Research Company, Qatar Investment Authority, MGX, and Baron Capital Group, among others.
Strategic partners NVIDIA and Cisco Investments also continued support for building the world’s largest GPU clusters.
As xAI stated, “This financing will accelerate our world-leading infrastructure buildout, enable the rapid development and deployment of transformative AI products reaching billions of users, and fuel groundbreaking research advancing xAI’s core mission: Understanding the Universe.”
xAI’s core mission
Th Series E funding builds on xAI’s previous rounds, powering Grok advancements and massive compute expansions like the Memphis supercluster. The upsized demand reflects growing recognition of xAI’s potential in frontier AI.
xAI also highlighted several of its breakthroughs in 2025, from the buildout of Colossus I and II, which ended with over 1 million H100 GPU equivalents, and the rollout of the Grok 4 Series, Grok Voice, and Grok Imagine, among others. The company also confirmed that work is already underway to train the flagship large language model’s next iteration, Grok 5.
“Looking ahead, Grok 5 is currently in training, and we are focused on launching innovative new consumer and enterprise products that harness the power of Grok, Colossus, and 𝕏 to transform how we live, work, and play,” xAI wrote.
Tesla (NASDAQ: TSLA) stock received a price target update from Pierre Ferragu of Wall Street firm New Street Research, citing the company’s growing lead in self-driving and autonomy.
On Tuesday, Ferragu bumped his price target from $520 to $600, stating that the consensus from the Consumer Electronics Show in Las Vegas was that Tesla’s lead in autonomy has been sustained, is growing, and sits at a multiple-year lead over its competitors.
CES 2026 validates Tesla’s FSD strategy, but there’s a big lag for rivals: analyst
“The signal from Vegas is loud and clear,” the analyst writes. “The industry isn’t catching up to Tesla; it is actively validating Tesla’s strategy…just with a 12-year lag.”
The note shows that the company’s prowess in vehicle autonomy is being solidified by lagging competitors that claim to have the best method. The only problem is that Tesla’s Vision-based approach, which it adopted back in 2022 with the Model 3 and Model Y initially, has been proven to be more effective than competitors’ approach, which utilizes other technology, such as LiDAR and sensors.
Currently, Tesla shares are sitting at around $433, as the company’s stock price closed at $432.96 on Tuesday afternoon.
Ferragu’s consensus on Tesla shares echoes that of other Wall Street analysts who are bullish on the company’s stock and position within the AI, autonomy, and robotics sector.
Dan Ives of Wedbush wrote in a note in mid-December that he anticipates Tesla having a massive 2026, and could reach a $3 trillion valuation this year, especially with the “AI chapter” taking hold of the narrative at the company.
Ives also said that the big step in the right direction for Tesla will be initiating production of the Cybercab, as well as expanding on the Robotaxi program through the next 12 months:
“…as full-scale volume production begins with the autonomous and robotics roadmap…The company has started to test the all-important Cybercab in Austin over the past few weeks, which is an incremental step towards launching in 2026 with important volume production of Cybercabs starting in April/May, which remains the golden goose in unlocking TSLA’s AI valuation.”
Tesla analyst breaks down delivery report: ‘A step in the right direction’
Tesla has transitioned from an automaker to a full-fledged AI company, and its Robotaxi and Cybercab programs, fueled by the Full Self-Driving suite, are leading the charge moving forward. In 2026, there are major goals the company has outlined. The first is removing Safety Drivers from vehicles in Austin, Texas, one of the areas where it operates a ride-hailing service within the U.S.
Ultimately, Tesla will aim to launch a Level 5 autonomy suite to the public in the coming years.
Elon Musk confirms xAI’s purchase of five 380 MW natural gas turbines
Elon Musk’s xAI closes upsized $20B Series E funding round
