Tesla's China Sales Tripled to Over USD1 Billion Last Year
Yicai Global
/SOURCE : Yicai
Tesla's China Sales Tripled to Over USD1 Billion Last Year

(Yicai Global) March 3 -- Tesla Inc.'s [NASDAQ:TSLA] China revenue more than tripled last year, rekindling faith that the country will eventually become the American electric carmaker's biggest market as predicted by its Chief Executive, Elon Musk.

The Palo Alto-based firm's revenue grew 73 percent to over USD7 billion last year, of which about USD1.07 billion was generated in China, the company's latest financial statements said. Sales in the US more than doubled to reach USD4.2 billion. China is currently Tesla's second largest market and contributed more than 15 percent of 2016's total revenue.

Tesla had a rough ride in China after entering the market in 2014. It encountered problems including delivery delays, a severe shortage of charging facilities and slumps in sales. The automaker opened 10 customer experience centers in China last year, and actively expanded local car charging networks. Some 514 Tesla super charging rigs have been erected in 74 Chinese cities, as of last month.

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