Only now there are problems with demand.
The Tesla company summed up the results of the last year on a larger scale the other day, announcing the release of 1,369,611 electric vehicles for the period and the delivery of 1,313,851 of this number to customers. As Bloomberg explains, citing official statistics, last month Tesla was able to sell 55,796 electric vehicles produced in China, and there is no breakdown yet of which part of them were sold in the domestic market and which went for export.
Image Source: Tesla
Recall that the Tesla plant in Shanghai is capable of producing more than a million electric vehicles a year, but it has been idle for more than a week since December 25, as the company had problems with the sale of manufactured products, and the conveyor required maintenance and modernization. As expected, at the end of January, Tesla’s Shanghai plant will be idle for about eight more days during the local New Year holidays. In total, 710,865 electric vehicles were produced here last year. In fact, 54% of the cars sold by the company last year were made in China. The Shanghai company has long become the largest exporter of electric vehicles of this brand in the world, deliveries of cars to Europe from China continue even after the launch of a local enterprise in Berlin.
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Rival BYD produced 910,000 electric vehicles last year, making it the biggest market player in China, though Tesla still dominates globally. The Chinese competitor, however, has made an impressive leap forward in terms of productivity, increasing its output of traction motor vehicles (including hybrids) from 603,783 units in 2021 to 1.86 million units in 2022. In December, 2.43 million cars of all types were sold in China, which is 47% more than in November, and about 730 thousand of them had a traction battery and an electric motor as part of the power plant. At the end of the year, the capacity of the local market could grow by 1.8% to 20.7 million vehicles.