Latest news with #Gigafactory3

South China Morning Post

Tesla loses more sales in China as buyers opt for cheaper, tech-laden domestic models

Deliveries by Tesla 's Shanghai factory plunged in April, reversing a short-lived turnaround a month earlier, in the latest sign of the US carmaker's grim situation in the world's largest electric-vehicle (EV) market. Advertisement The company's Gigafactory 3 handed 58,459 Model 3 and Model Y vehicles to customers in mainland China and abroad last month, representing a 25.8 per cent drop from March, according to data released by the China Passenger Car Association (CPCA) on Wednesday. Deliveries slipped 6 per cent from a year earlier. 'Tesla's hopes for a sustained rebound in China have faded since competition is getting fiercer,' said Eric Han, a senior manager at Suolei, an advisory firm in Shanghai. 'Its Chinese rivals, banking on their new models and aggressive pricing strategies, have lured more consumers.' The Gigafactory's first-quarter deliveries – comprising sales to local customers and exports – hit the lowest level in three years, slumping 22 per cent from the same period in 2024 to 172,754 units. 12:53 'Overtaking on a bend': how China's EV industry charged ahead to dominate the global market 'Overtaking on a bend': how China's EV industry charged ahead to dominate the global market In February, the plant in Shanghai's Lingang free-trade zone reported sales of 30,688 units, a decline of 51.5 per cent from January and 49.2 per cent from a year earlier. The February figure was also the lowest since July 2022. But deliveries in March jumped 157 per cent to 78,828 unit after it ramped up production of a refreshed Model Y. Advertisement