AutoBeta(AutoBeta.net)02/14 Report--

Tesla has been promoted to the largest carmaker by sales in the global electric car market, surpassing competitors such as BYD. Tesla's global sales reached 367000 in 2019, meeting its previous target of 360000 to 400000, while the company expects to deliver more than 500000 electric vehicles in 2020, an increase of about 40 per cent year-on-year.

Tesla's operating revenue in China reached $2.979 billion (about 20.78 billion yuan) in 2019, up 69.55 percent from a year earlier, according to a recent filing with the U.S. Securities and Exchange Commission (SEC). China is still Tesla's second largest consumer market.

Although Tesla's sales in China, the world's largest electric car market, is relatively low, Tesla believes that building a local factory to make cars is crucial to the company's expansion and sales in the Chinese market. In 2019, Tesla Shanghai Super Factory took less than a year to complete the construction work, and put into production in the fourth quarter, and delivered by the end of the year. At the same time, after enjoying exemption from purchase tax and new energy subsidies, the final sales price of domestic Model 3 has been less than 300000 yuan, which has enhanced the market competitiveness of domestic models.

Tesla also said that the Shanghai plant has an annual production capacity of 150000 Model 3s, but the actual output will eventually exceed that figure.

As the capacity of the Shanghai plant rises, it is expected to enable Tesla to enhance China's market position and eventually surpass the US market. At present, Tesla and Ningde era battery manufacturers have reached a preliminary cooperation, domestic Tesla will use the batteries supplied by Ningde era to further achieve localization and reduce production costs. Tesla also announced earlier that he would set up a design studio and R & D center in China, and is currently recruiting designers and other staff to expand the team. More and more phenomena show that Tesla's focus will shift to the Chinese market in the future.

In addition, the United States is still Tesla's largest consumer market. Tesla's revenue in the US market last year was $12.653 billion, down 15 per cent from $14.872 billion in 2018, according to documents.

Therefore, for Tesla's market performance in various regions of the world, the top four markets are the United States, China, the Netherlands and Norway, with revenues of US $12.653 billion, US $2.979 billion, US $1.59 billion and US $1.201 billion respectively, while other market revenues are US $6.155 billion.

In addition, Tesla also announced the issuance of 2 billion US dollars of common shares. Musk himself will buy as much as $10 million of shares, while Larry Ellison, a member of Tesla's board of directors, will also buy as much as $1 million. Tesla said he planned to use the proceeds from the offering to "further strengthen its balance sheet and for general corporate purposes."

Tesla shares rose 4.78 per cent to $804.00 a share, with a total market capitalization of $144.917 billion, by the close of trading on Feb. 13.

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