Tesla's Revenue In China In The First Quarter Was US$3.043 Billion, A Year-On-Year Increase of 238.1%

According to Tesla’s filing with the US Securities and Exchange Commission, Tesla’s revenue in China reached US$3.043 billion in the first quarter of this year, a substantial increase from US$900 million in the same period last year. 238.1%, accounting for 29.29% of Tesla's revenue in the first quarter.



Overall, the financial report shows that Tesla’s total revenue in the first quarter was US$10.389 billion, a year-on-year increase of 74%; net profit was US$464 million, a year-on-year increase of 582%; net profit attributable to common shareholders was US$438 million. A surge of 2638% year-on-year. Its performance in the first quarter exceeded analysts' expectations. In addition, this is the company's seven consecutive quarters of profitability.



Specific to the models, the first quarter production of Model 3 and Model Y models was 180,338, an increase of 107% compared to 87,282 in the same period last year; delivery volume was 182,847, an increase of 140% compared to 76,266 in the same period last year. The Model S and Model X models produced 0 in the first quarter, compared with 15,390 in the same period last year; deliveries were 2030, a year-on-year decrease of 83%.



In this regard, Tesla emphasized that it will expand its manufacturing capacity as soon as possible in the next few years, and it is expected that the average annual growth rate of vehicle delivery will reach 50%. Tesla also said that the company is currently building Model Y capacity in Berlin and Texas "super factories", and will start production and delivery in 2021. At the same time, the Shanghai Super Factory will continue to expand further.