Tesla China Sold Over 40,000 Domestically Produced Vehicles in August, May Launch EV Worth $25,000 in 2023

TESLA
(Source: Tesla)

According to data released by the China Passenger Car Association on Wednesday, Tesla’s sales reached 44,264 domestically produced units in August, up 275% year-on-year. As of August, Tesla has sold more than 250,000 vehicles in 2021, of which domestic sales alone have reached 152,531 units, exceeding the overall sales volume last year.

In contrast, BYD’s wholesale volume reached 60,858 vehicles in August, ranking first in the new energy passenger car market, and it only exported 781 vehicles in August, resulting in its domestic sales exceeding Tesla. The wholesale volume SGMW reached 43,783 units, ranking third.

Since Tesla announced at the end of July that it would transform its Shanghai Giga Factory into a major automobile export center, Tesla’s export volume has soared, exceeding 20,000 units in July and reaching 31,379 units in August.

According to Tesla CEO Elon Musk’s previous statement on Twitter in August, Tesla makes cars for export in the first half of the quarter, and for the local market in the second half. At present, the annual production capacity of Tesla’s Shanghai Giga Factory has exceeded 450,000 vehicles.

In addition, according to Electrek, Elon Musk has told Tesla employees that the automaker is aiming to release its previously announced $25,000 electric car in 2023. The new electric car, which is often referred to as the “Tesla Model 2,” has been likened to a new electric hatchback that Tesla has been planning to produce at the Giga Factory Shanghai in China and export globally. The CEO hinted that it might not even be equipped with a steering wheel. Back in 2019, Tesla unveiled an image of a vehicle without a steering wheel and pedals, and said that the goal was to release such a vehicle within two years.

SEE ALSO: Tesla Denies Shanghai Factory Halted Operation Due to Chip Shortage

Musk made it clear that this new lower price point is to be achieved through Tesla’s new battery cell and battery manufacturing efforts, which could reduce batterycosts by over 50%. In June, CATL, a Chinese battery giant, said it would supply lithium-ion power battery products to Tesla between January 2022 and December 2025.