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A key indicator of Tesla’s China business fell 24% last month

August 17, 2020

Via: Fortune

Registrations of locally made Tesla Inc. vehicles in China fell in July from the previous month as competition intensified in the world’s largest electric-car market.

In July, 11,456 China-built Teslas were registered in the country, according to data from state-backed China Automotive Information Net. That’s a 24% decrease from June. Tesla doesn’t report monthly sales numbers for China.

The world’s most-valuable carmaker is ramping up output after starting deliveries from its multibillion-dollar Shanghai plant around the beginning of the year. China is a crucial part of Elon Musk’s plan to expand beyond the U.S., and long-term success will require keeping local contenders such as NIO Inc. and global giants BMW AG and Volkswagen AG at bay.

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