The resignation of Tesla China President Wu Bixuan after just nine months on the job “hints that this new energy superstar’s drive into China isn’t going as smoothly as hoped,” AltEnergyStocks reports.
Tesla only had 23 supercharging stations in place at the end of the third quarter, pointing to infrastructure as a major challenge in its effort to break into the Chinese market.
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“Tesla is undoubtedly working hard to build many more such fast-charging stations in China, and most of the partnerships announced so far are for hundreds of slower-charging stations,” Young writes. “Still, the latest quarterly report contains no mention of China sales, hinting there’s not much good news to tell.”
The company had previously hoped to sell 8,000 vehicles in China this year.