Over the past several months, Tesla has seen a dramatic drop in car sales worldwide. This resulted in a first-quarter earnings report that left a lot to be desired. However, the company has received a much-needed boost in China, which may result in a bump in global sales.
Reuters reported that on June 3, China's Ministry of Industry and Information Technology announced that Tesla's Model 3 and Model Y would be added to the Chinese government-sponsored campaign to promote electric vehicle sales in rural areas of the country.
The move may surprise some who see China as the home to many of Tesla's direct competitors in the battery electric vehicle (BEV) market. In 2024, the Tesla Model Y earned the top spot as the best-selling BEV in China, with over 480,000 units sold. Hot on its heels was the BYD Dolphin, which sold over 440,000 units.
As The Street detailed, the campaign was introduced in 2020 and features over 120 EVs in an attempt to encourage eco-friendly transportation options. While some rural communities in China still lack the state-of-the-art EV charging station infrastructure of some of the country's urban centers, the Chinese government has made a concerted effort to improve access.
Yu Xiang, vice-president of NaaS Technology, described the challenges of EV adoption in rural areas. "Currently, the public charging infrastructure in rural areas is distributed unevenly with low utilization," Xiang told China Daily Global. "The construction of private charging stations is hindered by difficulties such as too few fixed parking spaces in many old neighborhoods and a lack of coordinated power connection planning."
As the Chinese government continues to encourage citizens to switch to EVs, its public charging infrastructure will likely see a boost as well. Meanwhile, in the U.S., more people than ever are opting to purchase used EVs.
EV ownership offers plenty of advantages for drivers, including decreased fuel costs, lower maintenance requirements, and a reduced impact on the environment thanks to zero emissions.
To create even more savings with your EV, installing solar panels on your home can make charging more affordable and reliable than using public charging stations or relying on the grid. EnergySage makes it easy to compare quotes from vetted local solar panel installers while also helping you save up to $10,000 on solar installations.
If purchasing solar panels is not in your budget, don't worry. You can choose to lease solar panels while still avoiding high energy prices. Palmetto's LightReach solar panel leasing program will help you install panels for no money down and lock in low energy rates, all while helping the planet.
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