Tesla's revenue in China jumps 123.6% to $6.66 billion in 2020
Tesla's revenue in China in 2020 amounts for $6.662 billion, a 123.6 percent jump from a year earlier, according to a filing the US electric car maker Tesla made with the SEC.
Tesla's revenue in China in the first three quarters of last year was $4.044 billion, which puts Tesla's revenue in China at $2.618 billion in the fourth quarter of last year.
Tesla achieved revenue of $2.979 billion in China in 2019, compared with $1.757 billion in 2018.
In 2019, China's contribution to Tesla's revenue is 12.12 percent, and in 2020 that percentage increased to 21.13 percent.
The US market remains Tesla's largest market in 2020, with revenue of $15.207 billion, and other markets outside of China and US contributed to its revenue with $9.667 billion.
After the second phase of Tesla's Shanghai mega-factory starts production and begins production of the Model Y, production of electric vehicles at this mega-factory will continue to increase, and revenue will also increase significantly.
While Tesla's revenue in China will increase significantly year-on-year in 2020, there are a number of issues that Tesla will need to address.
Five departments, including China's State Administration for Market Regulation (SAMR), have jointly interviewed Tesla, asking it to effectively protect the legitimate rights of consumers.
According to a statement published on the SAMR's official website, the action was made because consumers complained about abnormal acceleration, battery fires, and problems related to OTA in Tesla vehicles.