Tesla

The Megafactory will be Tesla's first energy storage system factory outside of its US domestic market, with an initial planned annual production capacity of up to 10,000 commercial energy storage batteries.

China is Tesla's second-largest market after the US, contributing 34.23 percent of its global deliveries in the first quarter.

In the January-March period, BYD was No. 1 with a 33.1 percent share, while Tesla was No. 3 with a 7.5 percent share.

In the first quarter, Tesla sold 132,420 vehicles in China, contributing 34.23 percent of its global deliveries.

Reuters reported that Tesla has canceled its long-promised low-cost car expected to start at about $25,000. Musk called the report a lie.

Tesla is offering a limited-time finance policy in China with down payments as low as RMB 79,900 and 0-interest loans for up to 5 years.

Tesla delivered 386,810 vehicles globally in the first quarter, missing estimates but regaining the BEV crown over BYD.

Tesla's China-made vehicle sales in March were essentially flat compared to the same month last year.

Tesla has raised the prices of all three variants of the Model Y by RMB 5,000 in China, in contrast to the price cuts made by other EV makers in the ongoing price war.

CATL is working with Tesla on battery technologies, particularly new electrochemical structures for faster charging, the Chinese battery maker's chairman said.