Tesla Sees Rising Demand in China

Photo of Trey Thoelcke
By Trey Thoelcke Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Tesla Motors Inc. (NASDAQ: TSLA) opened its first showroom to the public in Beijing in November and, according to ChinaDaily, hundreds of high-end Tesla electric cars have been ordered or preordered in China since. Tesla says it plans on opening more showrooms in the country’s “first-tier cities” in 2014.

The Tesla Model S and Model X also have been available for online order since December 14, and Chinese buyers have jumped at the chance to lay down deposits of 250,000 yuan for the luxury electric vehicles, even though Tesla has yet to establish electric vehicle charging stations throughout the country. And high-profile reports of a few engine fires in Tesla cars in the United States do not seem to have hampered demand in China.

Tesla also has yet to give its brand a Chinese name. The accurate translation for Tesla’s Chinese pronunciation, Te Si La, has been registered since 2006 by a local businessman who refuses to surrender the trademark.

As the big automakers like General Motors Co. (NYSE: GM) have learned, local competition is quick to arise in China. The nation’s leading new-energy carmaker, BYD Auto, recently launched a new plug-in hybrid in Beijing. The Qin, as it is called, can go 70 km on a single charge when running in all-electric mode, and the Qin’s battery can be charged at home using common electric power.

Photo of Trey Thoelcke
About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

Continue Reading

Top Gaining Stocks

CBOE Vol: 1,568,143
PSKY Vol: 12,285,993
STX Vol: 7,378,346
ORCL Vol: 26,317,675
DDOG Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ Vol: 4,367,433
CLX Vol: 13,260,523
SYK Vol: 4,519,455
MHK Vol: 1,859,865
AMGN Vol: 3,818,618