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Wednesday, 27 February 2019

Tesla’s model 3 dominates the global electric car market

Tesla’s model 3 dominates the global electric car market: Despite production challenges and Elon Musk’s legal hiccups with the Securities Exchange Commission, Tesla’s model 3 dominated electric vehicle (EV) sales in 2018, putting 138,000 units on the road and beating the nearest competitor by about 50%, reports Bloomberg. The nearest competitor—flagship EV of state-owned Chinese automaker BAIC—sold 92,000 units. The news comes as Tesla attempts to increase model 3 sales by an additional 100,000 units this year by breaking into the Chinese market, according to The Verge. Tesla had announced earlier this year that it was making ground on establishing a ‘gigafactory’ for battery production in Shanghai to service its expansion, the first such factory for the company outside the US.

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