Tesla is on its way to the most populated country in the world – China – and its got its biggest supporter – CEO Elon Musk – on board to be there personally for the big grand opening.
Tesla’s first Chinese deliveries will hit consumers later this month, Tesla’s vice president of marketing and communications Simon Sproule told Bloomberg Television Wednesday.
China has the potential to become Tesla’s biggest market. Sales in the nation are expected to match U.S. volume as early as next year, according to Musk.
Tesla’s foray into the China market is part of the Palo Alto-based company’s efforts to boost production of the Model S sedan by 56 percent this year. The green carmaker is also making a name for itself in Europe, with Norway already showing their support with big sales numbers.
Tesla’s move into China is closely being watched by other dealers because China has thus far been reticent to embrace electric cars due to a lack of charging stations and high costs. Tesla could find a market in China though, as concerns about excessive air pollution are mounting.
The nation is thus far behind its plan to have 5 million alternative energy-powered vehicles by 2020.
The move into China could also boost Tesla’s stock, which fell fell 3.6 percent to $209.16 at 11:58 a.m. in New York trading. The stock had gained 44 percent this year through yesterday.