Despite a turbulent year for the global economy and the US, Tesla has continued growing.
As of June 30th 2020, the EV automaker’s quarterly revenue in China climbed by $1.4 billion, a staggering 102.9% year-on-year growth.
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China now makes up 23.3% of Tesla’s total revenues, averaging at $6 billion per quarter.
While shipments in China jumped in the second quarter of 2020, Tesla delivered 4.8% fewer vehicles during the COVID-19 period, including suspending productions due to lock-downs.
As of June 2020, Tesla has been profitable for 4 consecutive quarters.