Hyperdrive
Tesla Annual China Shipments From Shanghai Drop for First Time
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Tesla Inc. recorded its first-ever drop in annual shipments from its Shanghai plant since the facility started mass production in 2020, a clear sign of the intensifying local competition and lukewarm global demand.
The automaker run by Elon Musk delivered 916,660 electric vehicles from Shanghai, the location of its first factory outside of the US, in 2024, down 3% from the year prior, according to preliminary data released by China’s Passenger Car Association on Friday.