For some time, Elon Musk has been talking a lot about him and regularly finds himself in the headlines. This is not a big surprise since he became the richest man in the world according to the Forbes list, and he is also the mind behind Tesla and SpaceX, two very high-profile companies lately. As if that weren’t enough, Elon Musk just became Twitter’s largest shareholder and tried to acquire a large part of the company to have full control over the shares and the future of the social network. Today, Elon isn’t in the news because of a new plan to take over Twitter, but because of recent advances by another of his companies – Tesla – in the Chinese stronghold.
In case you didn’t know, Tesla is establishing its presence in the competitive Chinese market. The company wants to take a good share of this important market for vehicles, especially smart electric vehicles. In recent weeks, Tesla’s Gigafactory in Shanghai has had to deal with a work stoppage. This is not very surprising, since China is facing a new recent surge in cases of the COVID-19 pandemic. Despite this, Tesla has made great strides in restarting production lines. In light of what he considers a “great job”, Elon Musk said he was satisfied with Tesla’s Chinese facade.
Tesla is doing well around the world to the delight of Elon Musk… and his fortune
According to the report, Tesla’s Shanghai Gigafactory resumed work smoothly on April 19. That day, about 8,000 employees arrived, and all of the vehicles were gradually restored. For those who don’t know, this is Tesla’s second Gigafactory overseas. The factory mainly produces Tesla Model 3 and Tesla Model Y electric vehicles. In 2021, Tesla’s Gigafactory in Shanghai managed to deliver a total quantity of 484,000 vehicles, which is a significant increase. To put that into perspective, that’s a 235% year-over-year increase for the company, which represents 51.7% of Tesla’s total global shipments.
On Wednesday April 20, Elon Musk achieved a series of goals and, for his good results at Tesla, he will receive new compensation of around 23 billion dollars. The world’s most valuable automaker has shared its records for the first quarter of 2022, with big profits. The company managed to overcome inflation and also the recent closure of the Chinese factory. According to market analysts, Elon Musk intends to sell some shares of Tesla to finance his offensive investment on Twitter.