Tesla (TSLA) production surges at Gigafactory Shanghai, explaining exports

Source: ten15am.org ten15am.org

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Tesla (TSLA) has achieved an impressive and somewhat surprising production surge at Gigafactory Shanghai in China. It could explain the sudden change of strategy and the start of exports. The China Passenger Car Association (CPCA) and the China Association of Automobile Manufacturers (CAAM) released their October 2020 data. It shows that the Chinese auto market has increased by 12% — continuing to quickly recover following the automotive sales crash caused by the pandemic. Sales of energy vehicles, which include BEVs, PHEVs, and fuel cell cars increased by 105% to 160,000 units. As for Tesla, the automaker roughly maintained its same...