(Source: CnEVPost)
Tesla‘s revenue in China reached $3.043 billion in the first quarter, up 238.1 percent from $900 million a year earlier and accounting for 29.29 percent of its revenue in the period, according to a company filing with the US Securities and Exchange Commission on Wednesday.
China continues to be Tesla’s second-largest market globally, but the gap with the size of the US market narrowed further.
The filing showed that Tesla generated $4.424 billion in US sales revenue in the first quarter, up 59.82 percent from a year earlier.
Tesla’s revenue in the US accounted for 42.58 percent of its Q1 revenue, down from 46.23 percent a year earlier.
Other markets, including Norway and the Netherlands, contributed $2.922 billion to the company’s revenue, up 26.11 percent year-on-year.
Tesla reported Tuesday that its revenue for the first quarter was $10.39 billion, up 74 percent from a year ago, but slightly below market expectations of $10.41 billion.
Non-GAAP EPS came in at $0.93 per share, up more than 300 percent year-on-year and above estimates of $0.80.
Net income under GAAP was $438 million, the highest ever recorded and the seventh consecutive profitable quarter.
Last year, Tesla achieved its first full-year profit in company history, led by China, one of the world’s largest electric vehicle markets.
