Tesla China’s November wholesale figures have been shared, and they are extremely impressive. Over the course of the past month, Tesla China sold a record 100,291 domestically-made vehicles, formally establishing a new record for Giga Shanghai. The numbers were reportedly shared by the Texas-based electric vehicle maker.
With such results, Giga Shanghai has managed to deliver over 650,000 vehicles on its own during the first 11 months of the year. Cui Dongshu, the secretary-general of the China Passenger Car Association (CPCA), further noted that Tesla China’s annual sales for 2022 could hit about 750,000 on its own.
Considering its impressive November results, Tesla China effectively posted an 89.73% increase in sales year-over-year, as Giga Shanghai sold 52,859 vehicles in November 2021. The results also represented a 39.87% month-over-month improvement from the 71,704 vehicles that were sold by Tesla China in October.
As noted in a Xinhua report, the localization rate of Giga Shanghai has now surpassed 95%. This has helped the country’s push to develop a world-leading integrated industrial structure, according to Tesla China VP Grace Tao. Tesla China’s rise comes as the country’s electric vehicle market is hitting its rhythm as well. The CPCA’s Cui currently estimates that from January to November, China’s NEV sales exceeded 5.7 million units, with 2022’s annual production and sales potentially topping 6.5 million.
While the overall sales figures of Tesla China for November have been released, TSLA bulls are still waiting for the release of the detailed breakdown of the EV maker’s wholesale figures. November is the second month of the quarter, which generally means that Tesla China allotted about half of its resources for exports during the month. December would be interesting as it would provide a hint at Giga Shanghai’s current capabilities if it focuses mostly on the domestic EV market.
Gigafactory Shanghai currently produces the Tesla Model 3 sedan and the Model Y crossover. As noted by Elon Musk, Giga Shanghai has effectively become the company’s primary vehicle export hub, particularly since the facility currently stands as Tesla’s largest EV production site by output.
Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.
