Tesla's demand in China fuels ‘home run’ quarter for deliveries
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. Updated: 05 Apr 2021, 06:54 AM IST Bloomberg
Musk is pushing into China -- already the world’s largest automotive market, including for EVs -- to gain a foothold amid competition from local electric-vehicle startups as well as Volkswagen AG
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Tesla Inc.’s estimate-smashing deliveries of electric vehicles in the first quarter suggest boss Elon Musk’s bet on growth in China and Europe is starting to pay off.
The results marked a strong start to a year in which Musk, the company’s chief executive officer, is counting on global operations to help scale-up production and sales. Palo Alto, California-based Tesla delivered 184,800 cars worldwide in the year’s first three months, trouncing the 169,850 average estimate in a Bloomberg survey of analysts and beating the fourth-quarter figure by about 4,000 vehicles.