TECH - Tesla China's Weekly Insurance Registrations Hit Highest Since Start Of 2024: Bull Gary Black Terms It 'Excellent' | Benzinga
EV giant Tesla Inc‘s (NASDAQ:TSLA) China sales are picking up momentum while being chased by other Chinese EV makers like Li Auto.
What Happened: Insurance registrations for Tesla vehicles came in at 17,400 units for the week ended June 23, up 48.7% from 11,700 units in the previous week, reported CnEVPost, citing data shared by Li Auto. This marks the highest weekly insurance registrations for Tesla this year.
BYD, however, topped Tesla with 66,800 insurance registrations in the period, up 16.78% from 57,200 vehicles registered the week before. The Chinese EV maker, however, makes both battery electric vehicles and plug-in hybrids, unlike Tesla.
EV startup Li Auto is following Tesla close on heels with weekly registrations touching 11,700 last week. China’s newest EV entrant, Xiaomi, also had 3,300 insurance registrations last week. Insurance registrations in China are considered a proxy ...