Tesla

The facelifted Model Y has entered a catalog of models eligible for purchase tax reductions in China, completing the full regulatory process.

BYD's share of China's NEV market in January was below the 31.0 percent recorded in December 2024, as sales declined.

Tesla's January retail sales within China were 15.49 percent lower year-on-year and 59.36 percent lower than in December, partly due to the disruption of the Chinese New Year holiday.

The Tesla Shanghai Megafactory will begin capacity ramp-up in the first quarter.

Tesla China's sales in January, including exports, were down 11.49 percent from 71,447 a year ago and down 32.56 percent from 93,766 in December.

Tesla plans to hold a ceremony on February 11 for the start of production at its Shanghai Megafactory, which will begin capacity ramp-up in the first quarter.

Tesla is offering RMB 8,000 ($1,100) in insurance subsidy for the Model 3, restarting a promotional tool it has used many times previously on the first working day of the Year of the Snake in the Chinese lunar calendar.

The automotive business was the main reason for Tesla's weaker-than-expected earnings, as incentives were more intense than expected.

The facelifted Model Y has been better accepted than the facelifted Model 3 after its launch in China, according to local media.

The software issues include reverse camera not displaying and steering assistance being limited.