To say the electric vehicle (EV) market in China has been slumping recently would be an understatement. The EV market in China has been shrinking for five months straight, including in August where EV sales dropped by 16% compared to the same month a year earlier.
Now according to recent numbers out of China, registrations of Tesla vehicles in China reached a 5 month high in November with 5,597 vehicles being registered. That compares to 393 in November of 2018, an increase of around 1,400%.
This is surely a good sign for Tesla, as China is the largest EV market in the world, accounting for about 50% of all EV sales globally according to Bloomberg.
With Tesla’s latest Gigafactory in Shanghai having recently obtained the necessary licenses and permits to begin selling made-in-China Tesla Model 3’s, the numbers should only improve as the company attempts to set new delivery records into 2020.