(By Balaseshan) Tesla Motors Inc. (TSLA) is entering the
Chinese electric vehicle market with a plan to open its dealerships this
spring, but the market has consistently underperformed for the electric
and hybrid vehicles.
In a recent announcement, Tesla Motors said it has intention to open
25 additional dealerships in the full year 2013 with the first in China.
a few months, Model S display cars will begin showing up in our
European stores and we look forward to seeing many of you at the Geneva
International Motor Show. Our opening in China is still targeted for
spring," Tesla's Vice President, Sales & Ownership Experience George
Blankenship said in a blog statement.
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However, according to Jing Daily, the electric and hybrid vehicles
have consistently underperformed in the Chinese market as it have been
far less popular than European markets and the outlook seems cloudy.
On the other hand, Ford Motor (NYSE: F) Executive Chairman Bill Ford
said at the end of November last year that China should facilitate the
adoption of electric cars and embrace new technologies in a step against
traffic congestion and air pollution, according to the Bloomberg.
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In addition, manufacturing companies in China are also targeting to
bring in electric and hybrid vehicles in to the market. Recently,
Chinese-owned auto-parts company Wanxiang America Corp. had acquired the
assets of bankrupt battery maker A123 Systems Inc. for $256.6 million
It is yet to be known how vehicles of Tesla Motors will
be accepted by the consumers in China. But China will see lots of
electric vehicles as automakers are venturing into the market.