Tesla sees 24% of Q3 revenue come from China

The US remains Tesla's largest market, contributing 47.73 percent of revenue in the third quarter.

Tesla generated $5.13 billion in revenue from China in the third quarter, accounting for 23.92 percent of its total revenue for the quarter, according to a Form 10-Q filed today.

That was up 64.82 percent from $3.11 billion in the same quarter last year and up 35.49 percent from $3.79 billion in the second quarter.

Tesla's total revenue in the third quarter was $21.45 billion, with the US market contributing $10.24 billion, or 47.73 percent.

In addition to China and the US, Tesla's revenue from other regions was $6.09 billion.

The Chinese market's contribution to Tesla's revenue reached a record high of 29.29 percent in the first quarter of 2021 and has declined since then.

In the second quarter, the Chinese market contributed 22.36 percent to Tesla's revenue, the lowest since the third quarter of 2020.

This is because, in the second quarter, Tesla's Shanghai plant was shut down for more than a month due to Covid lockdown.

In the third quarter, the US electric vehicle company reached a record high in deliveries here as the Tesla Giga Shanghai upgrade was completed.

In the third quarter, Tesla delivered 120,576 vehicles in China, according to data from the China Passenger Car Association monitored by CnEVPost.

The company delivered 343,830 vehicles globally in the third quarter, according to data it released earlier this month.

In the first three quarters, Tesla's revenue in China was $13.57 billion, up 50.44 percent from $9.02 billion in the same period last year.

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