Tesla Vehicle Registrations Soar in China

BUSINESS TURKMENISTAN
Tesla Vehicle Registrations Soar in China
The company has big hopes for Chinese market as the country accounts for about half of the world's electric-vehicle sales.

US electric vehicle maker Tesla grows its share in the world's biggest electric-vehicle market as new-car registrations soared 14-fold last month in China, giving the Model 3 maker some momentum as it prepares to begin deliveries from its multibillion-dollar Shanghai factory.

Registrations of Tesla vehicles climbed to a five-month high of 5,597 last month, compared with 393 a year earlier, according to state-backed China Automotive Information Net, which gathers and reports car industry data.

The company has big hopes for Chinese market as the country accounts for about half of the world's electric-vehicle sales.

Tesla's China-built Model 3s are set to start at about $50,000, slightly cheaper than imported versions. The firm plans to lower the locally built model's price by 20 per cent or more next year.

Tesla, Inc. is an American automotive and energy company based in Palo Alto, California. The company, established in 2003, specializes in electric car manufacturing and, through its SolarCity subsidiary, solar panel manufacturing.