elon musk tesla shanghai
Tesla CEO Elon Musk (center) in Shanghai.
STR/AFP via Getty Images
  • Tesla said its production in China has "ramped up well," with Shanghai remaining the company's primary export hub.
  • Tesla's Shanghai Gigafactory now produces more cars than its Fremont, CA, factory.
  • The electric vehicle maker reported record revenue and profit in the third quarter.

Tesla's operations in China appear to be overcoming the supply chain challenges – including a global chip shortage hitting carmakers worldwide.

The electric vehicle maker posted record revenue and profit in the third quarter of this year as production and demand in China held up well.

Tesla acknowledged "global supply chain and logistic challenges" in its press release yesterday. But the carmaker still managed to boost production in the third quarter, delivering 241,300 vehicles globally, a rise of 73% on-year.

"For all of Q3, China remained our main export hub," Tesla said at its quarterly earnings release yesterday. "Production has ramped well in China, and we are driving improvements to increase the production rate further."

Co-founder and CEO Elon Musk said at Tesla's annual shareholders' meeting earlier this month that its Shanghai Gigafactory now produces more cars than its Fremont, California, factory.

"The increase in production rate has primarily been driven by further ramping of the Model Y at our Shanghai factory," chief financial office Zach Kirkhorn said, according to a transcript of an earnings call that took place on Wednesday.

Chinese consumers also appear to be taking to Tesla's product line.

Tesla does not break down deliveries by country, but data from the China Passenger Car Association showed the carmaker sold more than 52,000 China-made vehicles to consumers in September.

Tesla exported 3,583 vehicles from its Shanghai factory last month.

Read the original article on Business Insider