Image via Bloomberg
Bloomberg Businessweek has a lengthy profile detailing “Tesla’s unprecedented success in China”, which has also made Elon Musk the world’s richest man.
Below is an excerpt:
In its first week after resuming production, with Toyota Motor Corp., Volkswagen AG, and other foreign carmakers still unable to fully reopen, Tesla Shanghai made about 1,000 cars. By March it was up to 3,000 a week, a higher rate than before the shutdown. Around that time, according to people familiar with the conversation, an executive remarked in an internal discussion that Tesla didn’t just have a green light from the government to get back to work—it had a flashing-sirens police escort. (In an email, a company representative said that “no Tesla executive has ever made such a statement.”)
Now, Tesla doesn’t have a public relations team anymore, but there are numerous instances in the story where Tesla responds and rejects claims.
In a nutshell, Musk and Tesla were able to set up shop in China and keep 100% control of its operations there, unheard of for foreign-owned businesses establishing themselves on the mainland. Tesla’s presence in China and success has trickled down to the supply chain, plus local electric vehicle startups, promoting competition.
The feature is set to debut within the January 18 issue of Bloomberg Businessweek—it might be worth a night time read.