Tesla sold 381,088 cars to Chinese buyers through the first nine months of 2026, down 11.9% from last year, according to CPCA data. Over the same period, Giga Shanghai’s exports more than doubled to 361,972 vehicles.

Nearly half of what Tesla builds in China now leaves China. And Beijing just announced it will cut the tax rebate on EV exports next year.

Tesla’s sales inside China fell 19% in the first half of 2026 compared to its peak in 2023, dropping to the lowest level in years, according to new data from the China Passenger Car Association (CPCA).

At the same time, exports out of Giga Shanghai surged 127%. Tesla’s China plant is increasingly building cars to ship somewhere else.