Tesla finally seems to be getting its cards right in the Chinese auto market as the American electric car manufacturer announced that its yearly revenue crossed the $ 1 billion milestone in the last financial year. The flattering success seems to be a strong indication that Elon Musk's bold prediction about 'China becoming Tesla's second biggest market' may very well come true.  

Like Us on Facebook

China accounted for more than 15 percent to Tesla's $7 billion global revenue, clocking revenue of $1.07 billion in 2016, according to the latest regulatory filing filed by the company. The silicon vally based company expectedly made the maximum revenue from the American, $4.2 billion or 60 percent of the total revenue.      

After an impressive debut in 2014, Tesla immediately hit a speed-breaker in the following year in the Chinese market after its sales and revenue dropped due to 'slow delivery' problem, with Musk specifically blaming 'the local sales staff' for the issue.

But a good showing in 2016 seems to have redeemed company's fortunes in the world's largest auto market.

Launched in 2003 at California, Tesla is widely considered as one of the major disruptors in the auto market. The company is often credited for singlehandedly carving out a promising industry for the electric cars, which at one point almost looked like a fancy idea to many industry experts.

The American electric car manufacturer has come a long way since then to become one of the leading players in the electric car industry. According to a report, the company sold over 186,000 electric cars globally between year 2008 and 2016.             

Tesla's good fortune in China is been partly aided by Chinese government's special drive to encourage the electric car industry. The government seriously believes that the electric or zero emission cars can help to curb the menace of air pollution in the country.   

As a result, many leading auto companies like Volkswagen, Honda, Hyundai and Nissan have sharpened their focus on the electric car market.  China's very own BYD Auto is also aggressively making strategies to stamp its authority over the electric car market.

TagsTesla, Tesla China, china, Electric Cars in China, Electric cars