Why Tesla's Surging Chinese Vehicle Sales Are Electrifying for Investors
Tesla (NASDAQ: TSLA) is making more electric vehicles in China than ever, according to a report from the Chinese Passenger Car Association (CPCA). As Reuters reports, 44,264 Teslas built in that country were sold in August, a 275% surge year over year, and a gain of 34% from July. That both in-China sales and exports are popping may be a bullish signal for the company in at least two ways.
Earlier this year, Tesla's Chinese venture looked imperiled by political opposition to the company from China's ruling party. Beijing's suspicions led to bans being enacted in May blocking Teslas from entering military bases and other official facilities. The government was apparently concerned about data collection through the vehicles' cameras, sensors, and GPS devices. New regulations are set to go into effect on Oct. 1 in an effort to improve "data security" on Internet-connected vehicles, including Teslas.
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Source Fool.com
