Earlier this week, Elon Musk presented his master plan for colonizing Mars , a mission of infinite possibilities and countless, forbidding obstacles. Musk could have been talking about China.
Just ask Tesla.
The California maker of luxury electric vehicles sold a disappointing 3,711 cars in China during the first eight months of this year, according to EV-Sales. Even little Norway bought more Teslas last year. Clearly, Tesla should be able to win more of China’s 1.8 million-strong luxury vehicle market.
China is also home to the largest electric vehicle market in the world. Sales this year are on track to reach 500,000 units.
So, what is Tesla’s holdup?
Chinese walls. China wants global dominance in electric vehicles. Beijing’s policies are designed to neutralize foreign EV makers. Tesla’s caught on the wrong side of the rules.
Market shares tell the story. Chinese brands led by BYD and Chery account for 98.5 percent of EV sales in the People’s Republic. Foreign EV products like the Nissan Leaf and Teslas divvy up 1.5 percent.