Tesla charges across the world

Tesla’s revenue from China last year tripled to more than $1 billion, indicating better traction in the market that Pretoria-born CEO Elon Musk has predicted could eventually become the company’s biggest.

China accounted for more than 15% of Tesla’s more than $7 billion of total revenue last year, according to a US regulatory filing.

Sales from the US more than doubled to $4.2 billion.

After a splashy start in China in 2014, the electric-car maker faced several setbacks there.

China revenue fell by a third in 2015.

To help address driving range concerns, Tesla said it would introduce converters that allow owners to power their vehicles at state-run charging points.

Worldwide, the company added 57 new stores last year and more than 200 supercharger stations.

Hotel, shopping centre and other destination charging points more than doubled to 4 140 locations.

Expanding the sales and charging infrastructure is significant, David Leiker, an analyst with RW Baird & Co, said.

It rebuts arguments the company lacks the footprint needed to support mass production of its more-affordable Model 3 car, he said.

Tesla rose 0.4% to $251.08 at 9.54am in New York after jumping 1.3%. – Bloomberg