CHINA TOPIX

11/02/2024 09:30:20 am

Make CT Your Homepage

Tesla To Launch New Models In China

Tesla Model X

(Photo : REUTERS / David McNew) Tesla CEO and co-founder Elon Musk unveils the Tesla Motors Model X electric vehicle at the Tesla Design Studio in Hawthorne, California February 9, 2012.

Tesla Motors Inc. plans to roll out new models in China, a move it hopes will help improve its operations there.

The electric-car maker will bring to China the dual-motor version of its Model S in the coming months. It hopes to release its Model X sports utility vehicle by early next year.

Like Us on Facebook

Diarmuid O'Connell, Tesla business-development chief said in an interview Monday, the company is focused on optimizing its sales process and operations in China, but did not explain further.

"We're looking forward to a great new year," O'Connel said. "We have a continued commitment to broaden the line and introduce product improvements over time."

O'Connell's remarks came in the heels of the company's disappointing 2014 performance in China.  The data raised concerns Tesla's spark is fading in China.

Tesla shares went up 0.33 percent to US$201.95 in pre-market trading on Monday following the announcement. 

Research firm JL Warren Capital said just under 2,500 Teslas were registered during a 9-month period last year. In December alone, only 442 Teslas were registered in China, down from 471 in November.

Tesla, however, did not comment on the figures. Chief Executive Elon Musk had earlier said he would consider it a success if Tesla sold over 5,000 of its vehicles to Chinese consumers.

In another interview, Musk attributed the sales drop to growing misconception that charging was difficult in China. This is one issue, the recent appointment of Tom Zhu - a charging expert who will head China operations  - hopes to resolve.

O'Connell reveals plans of setting up more sales and service centers as it "goes deeper" in urban areas such as Beijing, Shanghai, Guangzhou and Shenzhen.

A marketing executive at an auto-parts company, once a fan of Tesla, had expressed his sentiments on the electric cars.

"Due to a lack of sufficient charging stations, it's not very convenient to own a Tesla," Long Huanyi said. "The advantages of driving a Tesla over conventional gasoline cars cannot be fully realized in China."

Real Time Analytics