exported most of the cars produced at its Shanghai factory in April, raising questions about the strength of demand for its electric vehicles in China after a run of adverse publicity.
Some analysts have questioned whether there would be enough demand in China to absorb most of the Shanghai factory’s planned output of 500,000 vehicles a year. While a portion of the company’s Chinese production could be earmarked for export, the bulk of buyers would likely need to come from China—the world’s largest auto market—for the factory to be sustainable. Demand from the rest of Asia is relatively weak and Tesla is planning new production plants in Europe and the U.S.
Tesla’s Shanghai factory began exporting to Asia-Pacific markets, including Australia and Japan, earlier this year, but outside China, Asian demand for EVs remains limited. The U.S., Europe and China accounted for roughly 95% of global EV sales last year, according to the website EV Volumes. Japan, the largest Asian market outside China, accounted for around 1% of global sales, compared with China’s 41%.
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