Tesla Inc (NASDAQ:TSLA) expresses confidence that it will perform extremely well in the largest electric vehicle market globally. The company has invested multiple billions in the establishment of a vehicle manufacturing plant in Shanghai. Today it announces a major milestone where it has handed over about 15 cars to its employees. These are Model 3 sedans, and all of them have been assembled in the company’s facility in China.
Dealing with competition
The new multibillion-dollar situated in Shanghai is the first effort of the company to manufacture products on an international platform. The Chief Executive Officer of Tesla Elon Musk hopes for the best as he prepares to stag strong completion to most of the local contenders in the market. Some of these include the Xpeng Motors and NIO Inc. The others are Daimler AG and BMW AG on a global stretch.
Tesla says that after a short while, it will hand a second lot of its vehicles to the employees. The business guru exudes confidence that all the cars are going to be sold out quickly.
Plans about the delivery of products to customers are currently underway. If all move according to plan, the company promises that by January, it will have started the shipping activities.
The China project and other plans
Musk says that their Chinese plant is a strong pillar for their massive businesses. He says that they intend to give their businesses a significant boost that will transform it into a truly worldwide carmaker.
A month ago, the business guru disclosed about ist plan to set up a new factory in Germany. This country is known to have a rather burgeoning demand for electric cars, and Tesla will be leveraging on that. The company says that capturing the European market will be a big step for it in terms of achieving massive business success.
Tesla has been investing in increasing its momentum in the Chinese market. This has been in line with the EVs and autos in general, and it seems it is on track to succeed. It sees the electric cars manufactured by Xpeng Motors and NIO Inc as the targets to beat at the start.