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Tue, 4th Aug 2020 13:04:00 |
Tesla Prepares Massive Retail Expansion Worldwide |
Tesla, which has backtracked on its idea from last year to sell cars only online, is now looking to open retail locations in Tucson, Arizona, El Paso, Texas, Milwaukee, Wisconsin, and Smithtown, New York.
Despite factory shutdowns due to the pandemic, Tesla reported last month a surprise net profit for the second quarter, beating analyst expectations and reporting its fourth consecutive quarter of net profits.
“Model 3 has received a strong reception in China, not only becoming the bestselling EV, but also competing with mid-sized premium sedans, such as BMW 3- series and Mercedes C- (even before subsidies and vehicle tax), reduced operating costs and industry-leading standard equipment,” Tesla said about its Shanghai operations in the Q2 2020 update last month.
Tesla’s revenues in China doubled to US$1.4 billion for the second quarter of 2020, from US$690 million for Q2 2019, the company said in an SEC filing last week.
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