Tesla’s China EV sales increased by 2.4% in May compared to April, according to CPCA.

Tesla Delivers Over 77,000 China-Made EVs in May

By Qiaoyi Li and Brenda Goh

U.S. automaker Tesla Inc delivered 77,695 China-made electric vehicles (EVs) in May, a 2.4% jump from April, data from the China Passenger Car Association (CPCA) showed on Monday.

On a yearly basis, sales rose 142% in May from 32,165 vehicles in the same month of 2022 when Shanghai, where its factory is located, was still subject to COVID-19 containment measures that impacted production.

Chinese rival BYD Co Ltd, with its Dynasty and Ocean series of EVs and petrol-electric hybrid vehicles, logged sales of 239,092 vehicle in May, up 14% from April, CPCA data showed.

CPCA is scheduled to release more detailed car sales figures for May later this month.

Tesla has been under intense focus in China in recent weeks, amid an unannounced, high-stakes visit from boss Elon Musk. Musk wrapped up a two-day trip on Thursday that included talks with Chinese Vice Premier Ding Xuexiang on Wednesday in Beijing, a source told Reuters.

The latest trip, Musk’s first in three years after Beijing reopened its borders, came as Tesla faces intensifying competition from Chinese-made EV makers and uncertainty about expanding the Shanghai plant, its largest production hub.

He also met with foreign, commerce and industry ministers, and dined with Zeng Yuqun, chairman of battery supplier Contemporary Amperex Technology Co Ltd (CATL).

Musk visited Tesla’s Shanghai factory late on Wednesday and met with Chen Jining, the ruling party’s Shanghai secretary, on Thursday. Chen welcomed Tesla to increase investment and expand business in the city, according to a statement from the municipal government.

In an action described as a product recall, Tesla is distributing over-the-air software updates for more than 1.1 million vehicles for a braking issue from May 29, China’s market regulator said mid-May.

Since May, Tesla has raised prices in countries including China, after earlier price cuts triggered a price war, with many international and local brands following suit.

(This story has been corrected to clarify the BYD sales growth comparison is a monthly rise, not annual, in paragraph 3)

Other News:

• Parents at an LA County Elementary School stage a protest for a pride themed assembly

• LGBT Pride Month kicked off June 1st and Corporate America was poised to capitalize on it. Target is leading the charge and dominating headlines with their overt marketing.

• Former Banking Regulator Louis Navallier warns Biden and the Democrats are unleashing a potentially damaging plan, seizing control of your bank accounts.

• JP Morgan CEO Jamie Dimon and Tesla CEO Elon Musk both have recent meetings with China, as their relationship with the Communist nation raises concerns with Americans.

• By Foo Yun Chee BRUSSELS (Reuters) – Companies deploying generative AI tools such as ChatGPT and Bard with the potential to generate…

• By Angus Berwick and Tom Wilson LONDON – A senior Binance executive was the main operator for five bank accounts belonging to…

• By Steven Scheer TEL AVIV (Reuters) – OpenAI CEO Sam Altman predicted on Monday a “huge role” for Israel in reducing risks…

• TAIPEI (Reuters) – Taiwan’s Foxconn, the world’s largest contract electronics maker and major iPhone assembler for Apple Inc, said on Monday that…

*As an Amazon Associate I earn from qualifying purchases