Data released by the China Passenger Car Association (CPCA) has revealed that Tesla sold a total of 55,215 vehicles in the domestic Chinese market in May 2024. This represents a year-over-year gain of 29.89% from the 42,508 vehicles sold in May 2023 and a month-over-month increase of 75.73% from the 31,421 cars that were sold in April 2024.
Tesla China’s exports, which were listed at 17,358 units in May 2024, represented a 50.67% year-over-year decrease from the 35,187 vehicles that were exported in May 2023 and a 43.54% month-over-month drop from the 30,746 that were exported in April 2024, as noted in a report from CNEV Post. This trend is quite unsurprising as Tesla tends to focus on the domestic Chinese market during the final month of a quarter.
We now have the export and local sales split for May in China. ??
Tesla exported 17,358 cars. The lowest since November last year.
Local sales in China were 55,215. Up 29% year-over-year. https://t.co/QUzR8FRAfp pic.twitter.com/hdn4chI7id— Roland Pircher (@piloly) June 11, 2024
Of the 72,573 vehicles sold wholesale by Tesla China in May, 45,359 units were Model Y crossovers. This suggests that last month, the Model Y accounted for 62.5% of the electric vehicle maker’s wholesale figures in China. The Model 3 sedan, on the other hand, represented 37.5% of Tesla China’s wholesale figures in May 2024, accounting for 27,214 units.
Overall, China’s sales of New Energy Vehicles (NEVs) were listed at 804,000 units in May 2024, which represents a 38.64% year-over-year and a 18.75% month-over-month increase. The country’s Battery Electric Vehicle (BEV) segment, on the other hand, was tracked at 495,000 units in May 2024, a 27.58% year-over-year and a 22.16% month-over-month increase.
$TSLA ??
Tesla China's May domestic and export details were released.
• Retail: 55,215
• Export: 17,358 pic.twitter.com/ZkkmHQEfNg— Tsla Chan (@Tslachan) June 11, 2024
With this in mind, Tesla China accounted for 6.87% of the country’s NEV segment. This is a 4.66% improvement compared to April 2024 but a 7.33% decline from the company’s NEV share from May 2023, as per CNEV Post’s estimates. Tesla also accounted for 11.15% of China’s BEV segment in May 2024. This represents a 7.76% month-over-month improvement from April 2024 and a 10.96% improvement from May 2023.
From January to May 2024, Tesla China’s wholesale figures were tracked at 355,616 units, a 7.12% decline compared to the same period last year. Tesla’s drop in the domestic Chinese market is less notable, with the EV maker selling 219,056 units in the domestic automotive market from January to May 2024. Such a number represents a minor 0.38% decline year-over-year.
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Elon Musk
Brazil Supreme Court orders Elon Musk and X investigation closed
The decision was issued by Supreme Court Justice Alexandre de Moraes following a recommendation from Brazil’s Prosecutor-General Paulo Gonet.
Brazil’s Supreme Federal Court has ordered the closure of an investigation involving Elon Musk and social media platform X. The inquiry had been pending for about two years and examined whether the platform was used to coordinate attacks against members of the judiciary.
The decision was issued by Supreme Court Justice Alexandre de Moraes following a recommendation from Brazil’s Prosecutor-General Paulo Gonet.
According to a report from Agencia Brasil, the investigation conducted by the Federal Police did not find evidence that X deliberately attempted to attack the judiciary or circumvent court orders.
Prosecutor-General Paulo Gonet concluded that the irregularities identified during the probe did not indicate fraudulent intent.
Justice Moraes accepted the prosecutor’s recommendation and ruled that the investigation should be closed. Under the ruling, the case will remain closed unless new evidence emerges.
The inquiry stemmed from concerns that content on X may have enabled online attacks against Supreme Court justices or violated rulings requiring the suspension of certain accounts under investigation.
Justice Moraes had previously taken several enforcement actions related to the platform during the broader dispute involving social media regulation in Brazil.
These included ordering a nationwide block of the platform, freezing Starlink accounts, and imposing fines on X totaling about $5.2 million. Authorities also froze financial assets linked to X and SpaceX through Starlink to collect unpaid penalties and seized roughly $3.3 million from the companies’ accounts.
Moraes also imposed daily fines of up to R$5 million, about $920,000, for alleged evasion of the X ban and established penalties of R$50,000 per day for VPN users who attempted to bypass the restriction.
Brazil remains an important market for X, with roughly 17 million users, making it one of the platform’s larger user bases globally.
The country is also a major market for Starlink, SpaceX’s satellite internet service, which has surpassed one million subscribers in Brazil.
Elon Musk
FCC chair criticizes Amazon over opposition to SpaceX satellite plan
Carr made the remarks in a post on social media platform X.
U.S. Federal Communications Commission (FCC) Chairman Brendan Carr criticized Amazon after the company opposed SpaceX’s proposal to launch a large satellite constellation that could function as an orbital data center network.
Carr made the remarks in a post on social media platform X.
Amazon recently urged the FCC to reject SpaceX’s application to deploy a constellation of up to 1 million low Earth orbit satellites that could serve as artificial intelligence data centers in space.
The company described the proposal as a “lofty ambition rather than a real plan,” arguing that SpaceX had not provided sufficient details about how the system would operate.
Carr responded by pointing to Amazon’s own satellite deployment progress.
“Amazon should focus on the fact that it will fall roughly 1,000 satellites short of meeting its upcoming deployment milestone, rather than spending their time and resources filing petitions against companies that are putting thousands of satellites in orbit,” Carr wrote on X.
Amazon has declined to comment on the statement.
Amazon has been working to deploy its Project Kuiper satellite network, which is intended to compete with SpaceX’s Starlink service. The company has invested more than $10 billion in the program and has launched more than 200 satellites since April of last year.
Amazon has also asked the FCC for a 24-month extension, until July 2028, to meet a requirement to deploy roughly 1,600 satellites by July 2026, as noted in a CNBC report.
SpaceX’s Starlink network currently has nearly 10,000 satellites in orbit and serves roughly 10 million customers. The FCC has also authorized SpaceX to deploy 7,500 additional satellites as the company continues expanding its global satellite internet network.
Energy
Tesla Energy gains UK license to sell electricity to homes and businesses
The license was granted to Tesla Energy Ventures Ltd. by UK energy regulator Ofgem after a seven-month review process.
Tesla Energy has received a license to supply electricity in the United Kingdom, opening the door for the company to serve homes and businesses in the country.
The license was granted to Tesla Energy Ventures Ltd. by UK energy regulator Ofgem after a seven-month review process.
According to Ofgem, the license took effect at 6 p.m. local time on Wednesday and applies to Great Britain.
The approval allows Tesla’s energy business to sell electricity directly to customers in the region, as noted in a Bloomberg News report.
Tesla has already expanded similar services in the United States. In Texas, the company offers electricity plans that allow Tesla owners to charge their vehicles at a lower cost while also feeding excess electricity back into the grid.
Tesla already has a sizable presence in the UK market. According to price comparison website U-switch, there are more than 250,000 Tesla electric vehicles in the country and thousands of Tesla home energy storage systems.
Ofgem also noted that Tesla Motors Ltd., a separate entity incorporated in England and Wales, received an electricity generation license in June 2020.
The new UK license arrives as Tesla continues expanding its global energy business.
Last year, Tesla Energy retained the top position in the global battery energy storage system (BESS) integrator market for the second consecutive year. According to Wood Mackenzie’s latest rankings, Tesla held about 15% of global market share in 2024.
The company also maintained a dominant position in North America, where it captured roughly 39% market share in the region.
At the same time, competition in the energy storage sector is increasing. Chinese companies such as Sungrow have been expanding their presence globally, particularly in Europe.