Tesla's China Shipments Jump as EV Subsidies Near End

Tesla's electric vehicle shipments from its Shanghai factory surged in November. The increase came as Chinese buyers rushed to purchase cars before national subsidies expire. The company delivered 86,700 China-made vehicles last month, according to the China Passenger Car Association (CPCA). This figure marks a 41% increase from October and a 10% rise from November last year. The Shanghai plant is Tesla's largest production facility globally. It manufactures Model 3 and Model Y vehicles for both the local market and for export. The sales rebound is linked to China's new energy vehicle (NEV) subsidy program. This government incentive, which has helped fuel EV demand for years, is set to conclude at the end of 2022.