Tesla celebrates the production of its 10-millionth Electrical Drive System at its Shanghai Gigafactory on Aug 1. [Photo/Shanghai Observer]

Tesla's Shanghai Gigafactory reported a remarkable surge in production, with the delivery of a record-breaking 74,117 units of the Model 3 in July. This achievement showcases a robust rebound in sales for the US electric carmaker, which has been steadily gaining momentum in recent months.

According to Tesla's announcement on Aug 2, the Shanghai Gigafactory witnessed a 15 percent increase in car deliveries in July, solidifying its position as a key production hub for the company.

In a testament to its growing success in the Chinese market, Tesla recorded sales of 46,000 vehicles in July, reflecting a remarkable year-on-year increase of 47 percent. This achievement marks a strong start for the company in the third quarter.

Tesla's success in China can be attributed to strategic initiatives such as the introduction of a zero-interest loan for five years, which was initially launched on July 1 and later extended until the end of August to incentivize vehicle purchases. These efforts have not only boosted consumer interest but have also contributed to the company's impressive sales performance in the region.

Tesla's sales growth in China has been evident in recent months, with sales reaching 55,000 vehicles in May and 59,000 vehicles in June, marking year-on-year increases of 77 percent and 7 percent, respectively. According to the China Passenger Car Association, Tesla's sales during the second quarter of 2024 saw a notable 10.2 percent increase compared to the same period last year, highlighting the company's sustained growth trajectory in the region.

In a momentous occasion, Tesla celebrated the production of its 10-millionth Electrical Drive System at the Shanghai Gigafactory in August, underscoring the plant's status as the world's most efficient car manufacturing facility. Since its inception in 2019, the factory has leveraged China's comprehensive supply chain and intelligent manufacturing capacity to achieve remarkable efficiency, producing one car every 30 seconds.

Positioned as Tesla's primary global export center, the Shanghai Gigafactory delivered a total of 947,000 units in 2023, accounting for over half of the company's global production.

Source: Shanghai Observer