Foreign media: Tesla will announce the location of China’s factory in the third quarter.

2018-06-30

Foreign media: Tesla will announce the location of China's factory in the third quarter.

Elon Musk, the chief executive of ttesla, said in a Wednesday conference call conference that the company plans to publish the site for the site of a Chinese factory in the third quarter of this year, preparing to make batteries and Model Y for small transboundary cars in China, Tencent News reported.

“Model Y may be launched next quarter, but not later than the fourth quarter,” Musk said in a conference call. “We will also announce the location of Tesla super battery factory soon.”

After the Chinese government announced last month’s cancellation of the upper limit on foreign investors’ shares in electric cars and hybrid cars, Tesla began to consider investing in manufacturing plants in China. Mask said Tesla’s future factory will produce batteries and assemble electric vehicles. Tesla currently owns an electric vehicle manufacturing plant in California, USA, and has a super battery factory in Nevada.

Ren Yuxiang (Robin Ren), vice president of the company’s Asia Pacific region, will replace the resigned Joe Macneil (Jon McNeill), the president of the company’s sales and service, at the conference call. Macneil switched from Tesla to the Lyft of the Internet company. Musk stressed: “Ren Yuxiang is currently in charge of Tesla’s global sales. He was born and grew up in China. “

Mask has previously said that Tesla will make Model3 and Model Y two electric cars in China in the future, but will not make the high-end models of Model S and Model X. He said in November last year that Tesla had about three years to build electric cars in China.

Tesla sold 14883 electric vehicles in the Chinese market last year, occupying 3% of the total in the Chinese electric vehicle market, ranking tenth in the market. According to Bloomberg data, revenues from the Chinese market in 2017 accounted for about 17% of Tesla’s total revenue.

In the first quarter of fiscal 2018, Tesla’s first quarter earnings released on Wednesday showed that the company’s first quarter revenue was $3 billion 409 million, up from $2 billion 696 million in the same period last year, a net loss of $785 million, an expansion compared with a net loss of $372 million last year, and a net loss of $710 million attributable to ordinary shareholders. Compared with the same period last year, the net loss attributable to common shareholders was 330 million US dollars.

In the first quarter, Tesla made 24728 Model S and X, and 9766 Model 3; delivered 21815 Model S and X, and 8182 Model 3, with an electric vehicle delivery of 29997. By the end of the first quarter, the total number of Model3 orders that had not yet been delivered still exceeded 450 thousand. The weekly output of Model 3 in April this year has reached 2270, and over 2000 weeks in third weeks.

Tesla also predicts that Model3 will reach about 5000 weekly capacity in the next 2 months; the delivery of Model S and X will be flat in the first quarter, but will start to grow sharply in the third quarter, eventually achieving the target of 100 thousand vehicles for the whole year. (compiling / Ming Xuan)

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