According to the CPCA, the total passenger car sales in January in China totaled 2.11 million, down 4.5% from a year earlier.
American multinational electric vehicle manufacturer Tesla Inc (NASDAQ: TSLA) delivered a total of 59,845 of its electric vehicles (EV) made cars in China in January. As reported by Reuters, the figures were confirmed by the China Passenger Car Association (CPCA) on Monday, showcasing another month in which the Austin, Texas-based company extended its lead compared to all other competing players in the space.
Since Tesla opened the Shanghai GigFactory back in 2020 and the factory was the home to Model 3 sedans and Model Y Sports Utility Vehicles. These unique EVs have been delivered by the company as far back as September 2020, however, the latest delivery figures come short of the 70,847 vehicles Tesla delivered in December 2021.
The EV market is heating up as several companies compete for new markets around the world. While Tesla remains a dominant player, other big startups are springing up with the promise of increased quality, and lower cost. According to the CPCA data, Nio Inc (NYSE: NIO) delivered 9,652 cars in January, a figure that comes off as 33.6% growth from the prior year, and Xpeng Inc (NYSE: XPEV) recorded a total of 12,922 vehicles in January.
According to the CPCA, the total passenger car sales in January in China totaled 2.11 million, down 4.5% from a year earlier.
Tesla and EV Producers to Make Electric Cars Go Mainstream
As of today, electric vehicles have been identified as a vital way to help fight climate change as governments around the world are making a concerted effort to help proliferate new devices with zero CO2 emissions.
Based on this, a special preference and policy backing is being given to electric automakers, and at the moment, this backing has relatively not impacted the overall cost of electric cars to make products from the likes of Tesla affordable for all.
The ultimate goal as set by a number of auto brands is to switch their products to all-electric in the coming decade, and this move has increased the competition across the board amongst the most prominent players in the space.
While partnerships with supply chain companies remain a crucial way for EV makers to distribute their products, sales to retail customers are arguably the most sustainable avenue to lead the market trend in the longer term. Companies pursuing electric vehicles must continue to innovate and optimize resources to make EVs as cheap as regular cars that are currently being bought at a large and consistent scale around the world today.
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