Boosted by the trade-in subsidy, Tesla China's August shipments increased year-on-year
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Tesla's Shanghai factory saw a 3% year-on-year increase in shipments in August, marking the second consecutive month of growth. This growth was attributed to the Chinese government doubling the subsidy for "scrappage and replacement" of new energy vehicles to 20,000 RMB at the end of July. Data from the China Passenger Car Association shows that wholesale sales of new energy passenger vehicles nationwide reached 1.05 million units in August, up 32% year-on-year and 11% month-on-month. It is expected that Tesla's shipments in China will continue to grow
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