Electric car maker, Tesla Inc says it has begun sales of its China-made Model Y sport-utility vehicles (SUV) and the first customers are expected to take delivery of their automobiles this month, as the company makes inroads into the Chinese market, which is the world’s biggest car market.
Although the demand for electric vehicles, as well as the needed infrastructure needed for it, is still very low in parts of Asia compared to Europe, the Chinese market provides abounding opportunities and potentials for electric vehicle makers to tap in, as countries key into initiatives to cut greenhouse gases emissions and reduce their carbon footprint.
The electric car runs on substantially cleaner energy than its gasoline and diesel counterparts, thus producing a significantly reduced carbon footprint, in comparison with conventional cars.
China offers several incentives including hefty subsidies for electric vehicle manufacturing and deployment as it pursues a policy of cutting down on pollution from petrol or diesel cars, which aligns with Tesla’s global strategy. The electric vehicle maker is expanding its Shanghai factory where the Model 3 sedans are produced. The Model 3 vehicles have been exported to the European market since October 2020.
The company is also adding manufacturing capacity for electric vehicle chargers in Shanghai and expanding its sales and service network in China. It sold over 20,000 vehicles in November 2020 alone.
The Model Y sells in China for around 339,900 yuan (about $52,000). Tesla’s China sales figures are indicative of a growing demand for these electric vehicles which also provide substantial savings in energy costs in the long run.
Some other electric vehicle makers already berthed in China include Volkswagen and BMW, while several local manufacturers such as Nio, Xpeng, and Li Auto are also seeking a bite from the lucrative Chinese market.
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(source)
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