Tesla’s revenue in China reached 13.844 billion yuan, up 107.8% year-on-year

2022-06-12 0 By

According to tesla’s 10-K annual report filed with the US Securities and Exchange Commission (SEC), tesla’s revenue in The Chinese market reached 13.844 billion US dollars in 2021, up 107.8% year on year.In 2021, Tesla reported its strongest financial results ever: full-year revenue of 53.823 billion US dollars, up 71% from the previous year;GAAP net income was $5.519 billion — less than 15 days away from the 100 million a day mark.In 2021, when Musk’s position as the richest man rose and fell, the contribution of the Chinese market to Tesla continued to increase: In 2021, the revenue of the Chinese market accounted for 25.72% of tesla’s total global revenue;The figure was 21.13 percent in 2020 and 12.12 percent in 2019.(image from LTN, copyright belong to author) of the Chinese market revenue surge, immediate cause is sales promotion: by cib, according to data from the tesla Shanghai factory delivery volume reached 484130 in 2021, accounting for 51.7% of global total deliveries, among them, only about two-thirds for the Chinese market sales, supply about a third of the overseas market.It can be said that the expansion and full capacity of the Shanghai plant provides a foundation for growth in China, other Asian countries and even Europe.Tesla does mention the importance of the Shanghai plant several times in the document:The overall gross margin of Tesla’s automotive division rose from 25.6% in 2020 to 29.3% in 2021, “despite rising costs due to tight raw materials, commodities, logistics and supply chain strains, Model 3 and Model Y bike manufacturing costs dropped significantly due to local sourcing and manufacturing in China.”On the run, Musk has set a target for 2022 sales growth of “comfortably over 50%” year-over-year, which translates into an estimated delivery of more than 1.4 million vehicles.Tesla, of course, is following the boss’s pitch, saying that the goal can be achieved even if only the Production of fremont, California, and Shanghai plants.So far, the Shanghai plant is still tesla’s only mass production plant outside the United States, and the factory in Berlin, Germany, has been repeatedly rejected, leaving the Shanghai plant burdened with production capacity in overseas markets.According to the information released so far, both the Berlin and Texas plants are in the commissioning stage and are close to production.For now, however, those plants only produce the Model Y, and European customers will still have to rely on the Shanghai factory on the other side of the continent to get their hands on the Model 3 as soon as possible.