BEIJING, Sept. 5 (Xinhua) -- Tesla is expecting to make more strides in the Chinese market as China's new energy vehicle (NEV) industry enjoys massive market and vibrant growth momentum, said President of Tesla China Wang Hao.
Tesla's new version of China-made Model 3 sedan made debut at the 2023 China International Fair for Trade in Services (CIFTIS) on Saturday, marking the first time the global carmaking giant has unveiled a vehicle in China ahead of the United States.
"A platform like CIFTIS is an excellent window for multinational enterprises to understand the Chinese market," Wang said. "We can be well-informed of consumers' thoughts in a short period of time and feel the market vibes up close."
China's NEV industry has made a meteoric leap over the past decade, and Tesla has gained a groundswell of popularity among Chinese customers, in stark contrast to landscape when the EV maker entered China in 2014, according to Wang. "Few car companies would launch new cars at a service trade fair. But why not here?" he added.
"Now, when automobile manufacturers talk about their development strategies for the future, they almost focus on new energy sections. If we don't keep up with that pace, we will be left behind," he noted.
A total of 53 percent of all fully electric cars and plug-in hybrids globally were running on China's roads at the end of 2022, according to an analysis published by the German Center for Solar Energy and Hydrogen Research Baden-Wuerttemberg (ZSW) in August.
With a doubling of new registrations to 6.5 million electric vehicles, China also recorded the largest increase of all markets last year, as the country accounted for 60 percent of global registrations, ZSW said in a statement.
Wang stressed the strong support Tesla obtained from the Chinese authorities, including the Beijing municipal government back in 2014 and the Shanghai municipal government in recent years.
Tesla's Shanghai Gigafactory delivered 64,285 electric vehicles in July, up 128 percent from the same period last year, according to the U.S. electric auto giant.
Recently, the Tesla Shanghai Gigafactory began exporting its Model Y (Rear-Wheel Drive) vehicle to the Republic of Korea (ROK), marking the first entry of made-in-China Tesla vehicles into the ROK market.
Wang also mentioned that an increasing number of foreign traditional car enterprises have begun to cooperate with China's NEV and battery companies.
Tesla's localization rate of car components used in the Shanghai factory has exceeded 95 percent. "We signed contracts with about 360 local Tier 1 suppliers, and we've brought 60 of them to the international market," Wang added. "They also won recognition from other international auto manufacturers."
"Chinese enterprises in the (related) supply chain have grown with Tesla, because there are a lot of underlying research and development of new energy vehicles, from ideas to assembly lines. Tesla is advancing with these enterprises," he said.
"These enterprises will serve more other Chinese new energy vehicle enterprises, which is a benign environment for mutual promotion. We look forward to working hand in hand with the Chinese new energy vehicle industry to make more progress," Wang added. Enditem
(Moritz Rommerskirchen, and Du Zheyu in Berlin, Peng Peigen, and Zhou Rui in Shanghai also contributed to the story.)
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