On April 22, 2014, Tesla CEO Elon Musk delivered Model S to the first Chinese owners, including Xiaomi founder Lei Jun and Li Auto founder Li Xiang.
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Today marks the 10th anniversary of Tesla's (NASDAQ: TSLA) entry into China, where the US electric vehicle (EV) maker has more than 1.7 million owners, it said today on Weibo.
"10 years ago today, we put the flagship coupe Model S in the hands of 15 consumers who were at the forefront of their time," Tesla wrote in Chinese on Weibo.
"Today, 10 years later, we are serving more than 1.7 million Tesla owners in China. Tesla has more than 6 million owners globally and China has more than 20 million new energy vehicle (NEV) ownership," it said.
On April 22, 2014, Tesla CEO Elon Musk delivered the keys of the Model S to the first Chinese owners, including Xiaomi (HKG: 1810, OTCMKTS: XIACY) founder Lei Jun and Li Auto (NASDAQ: LI) founder Li Xiang.
Xiaomi launched its first EV model, the SU7, last month, a strong competitor to the Model 3. Li Auto's models are all SUVs except for one MPV, and they compete primarily with the Model Y.
In 2014, China didn't have green license plates exclusive to NEVs, and early owners of Teslas used the same blue license plates as fuel vehicles. Today, there are still many Model S and Model X with blue license plates that can be seen on the road.
Tesla began construction of its Shanghai factory on January 7, 2019, and put the plant into operation at the end of 2019, making it China's first wholly foreign-owned auto manufacturing project.
Giga Shanghai began deliveries of the Model 3 sedan to local consumers in January 2020 and the Model Y crossover in January 2021. The Model S and Model X have not yet been built in China.
Giga Shanghai saw its one millionth mass-produced vehicle roll off the production line on August 13, 2022, less than three years after the plant began production.
On September 6, 2023, the Tesla Shanghai factory saw the 2 millionth vehicle roll off the line.
The factory's current annual production capacity of more than 950,000 vehicles is its largest in the world, according to the company's third-quarter financial report, which was released in October 2023.
Tesla models are still among the most popular in China, especially the Model Y, though the company is also facing increasing competition.
Yesterday, Tesla cut the prices of the entire range of models it offers in China, including the locally produced Model 3 and Model Y, and the imported Model S and Model X, all by 14,000 yuan ($1,930).
($1 = RMB 7.2432)
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