2019 is poised to be a breakout year for Tesla. The Model 3 is expected to become the best selling electric car in Germany and construction of the new Gigafactory 3 in China is already a year ahead of schedule.
A new video has surfaced showing construction progress at Tesla’s third Gigafactory outside of Shanghai, China. Surprisingly or unsurprisingly, the new Gigafactory has already been the source of much contention. Self-proclaimed shorters of TSLA stock have visited the site and shared videos of fields of dirt, empty office buildings, and the like. (Sound familiar?)
Tesla has initiated a clear and definite EV revolution in the United States and Canada. In Canada, 8% of new car sales are now electric car sales. In the US, the Tesla Model 3 has absolutely crushed and embarrassed its “competitors” in the midsize luxury car market (or even the small + midsize luxury car market). It is also one of the top selling cars — of any class — in the land of stars and stripes.
Now, the revolution is headed to Europe and China.
Welcome to the next issue of China x Cleantech, October edition. As always, China has produced a steady stream of stories — some got covered here on CleanTechnica and others slip under the radar. This monthly feature helps to better inform you of the rapid changes happening in China. China × Cleantech is also published over on the “Future Trends” section of our website. Here’s the previous report in case you missed it.
It has been a while since I wrote a “What Changed In The EV Industry … ?” article, so I’m now rolling through three months of news as we approach the end of November.
Below is a roundup of notable September and October electric vehicle news.
Tesla has continued its ongoing expansion with the construction of its new Distribution Center in Lathrop, California. The facility sits just over 50 miles from its Fremont factory.
Tesla’s customers in China could be receiving their Model 3s as early as March or April, according to hot news today from a little blue bird. Tesla is continuing to ramp up its supply chain teams in preparation for the Model 3 launch abroad, and CEO Elon Musk noted that there could be a few deliveries to China in March, but that April was more certain.
Elon Musk took to Twitter on Friday to talk about battery production, foreign factories, and expanding sales to more countries. He also indicated more factories are coming to support increasing sales.
One of Tesla’s largest shareholders, Baillie Gifford & Co, noted that it was willing to inject more money into the automaker in the event that another capital raise was needed. As of June 30th, the firm owned 7.72% of outstanding shares, or 13,171,801 shares, valued at nearly $4.4 billion at the current stock price. (That’s billion with a “b.”)
As a consequence of the current trade war, Tesla faces an extra 25% on top of the standard 15% general import duty when importing into China from the USA. That is 25% more than imported German cars and more than 50% over locally produced vehicles that are eligible for EV incentives.
