Tesla is the dominant electric vehicle (EV) manufacturer in the United States, and its sales are climbing throughout the rest of the world as well — including in the world's largest EV market, China.
According to late-June reporting from Electrek, Tesla was on track to deliver 155,000 vehicles in China in the second quarter of the year. That would set a new record for Tesla, marking the most EVs it's sold in the country in a single quarter. That figure is up 13% from the previous record, which was set in the first quarter.
The number may not keep climbing, though, as some experts expect Tesla to plateau in China due to increasing competition from domestic car brands. Chinese automotive company BYD recently unveiled its new EV, dubbed "The Seagull," at the Shanghai automotive show, along with a promise that it will be the most inexpensive EV in the world upon its release, costing only about $11,200.
Unfortunately, The Seagull will not be available to customers in the United States, where, sadly, some affordable EVs are also on the way out. But in China, an EV that costs less than a quarter as much as the base price Tesla Model Y could take a serious bite out of Tesla's overall sales. According to Electrek, Tesla's market share in China is expected to drop from 16% to 13% due to new models from BYD and others.
Unless you are a Tesla shareholder, however, this should all still come as good news. The more EVs replacing planet-overheating gas-powered internal combustion engine vehicles, the better. And it's even better if those EVs are ones that regular people can actually afford.
"The entire idea of an 'EV market' is false. EVs are a direct and complete replacement for anything with a gas tank," one Electrek commenter wrote regarding the news. "Tesla isn't losing market share in a made up EV market. It is gaining market share in the car market."
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