US electric vehicle maker Tesla said on Thursday it will double down on its investment in, and future plans for, the China market, the world”s biggest for EVs.
In remarks made at the 2022 World Internet Conference Wuzhen Summit, Tesla said it will further tap into the burgeoning EV business and strengthen efforts to promote the transition to clean energy globally.
The carmaker also said it hopes to contribute, through its solutions and products, to China’s goals to peak carbon emissions by 2030 and reach carbon neutrality by 2060.
China’s EV market has been booming and is becoming more attractive for EV manufacturers, said Tao Lin, Tesla’s vice-president.
With the improvement of EV infrastructures such as charging piles and relevant services, travel by EVs has become popular. EV sales continue to surpass sales of fuel vehicles in what has become an irresistible trend, Tao said.
The China Association of Automobile Manufacturers said that from January to October, the production and sales of new energy vehicles, or NEVs, reached 5.485 million units and 5.28 million units, respectively, both up 110 percent year-on-year.
“We hope to play a bigger role in China’s achieving carbon goals with our sustainable concept and products. Meanwhile, Tesla also hopes to tap the growing EV market of China, the world’s most populous country, to further our mission of ‘accelerating the world’s transition to sustainable energy’,” Tao said.
Tesla’s plant in Shanghai remains the carmaker’s major export hub, helping the company drive up its fast-growing global sales, she said.
In the first 10 months of this year, accumulative exports of Tesla’s Shanghai plant reached 219,427 units.
Tesla said it will ramp up contributions toward China’s EV development. Tao said over 95 percent of Tesla vehicle parts are made in China, which contributed to the growth of the country’s manufacturing industry and the development of industrial chains.
“Tesla attaches great importance to the Chinese market and consumer demand. The company has been stepping up efforts to offer improved charging solutions for Chinese consumers. It also strives to improve services, from consulting and purchasing to after-sales service, with the support of science and technology,” Tao said.