According to Tesla's recent 10-K filing with the U.S. Securities and Exchange Commission, Tesla's revenue in China has increased by more than 100% for two consecutive years. Tesla announced that its revenue in the Chinese market in 2021 is $13.844 billion. Tesla's revenue in China was $2.979 billion in 2019 and $6.662 billion in 2020.
In contrast, according to data released by Tesla, its revenue in the United States in 2021 is $23.973 billion. Tesla's revenue in the U.S. has grown over the past two years. Tesla's revenue in the U.S. was $12.653 billion in 2019 and $15.207 billion in 2020.
In 2021, Tesla's revenue in China was $13.844 billion, an increase of 107.8% year-on-year. In the first three quarters of 2021, Tesla's revenue in China was $9.015 billion. In the fourth quarter of 2021, Tesla China revenue increased by 53.6% to $4.829 billion.
Tesla China's revenue growth is attributable to the Shanghai Gigafactory, which has been steadily increasing its production capacity since its operation. Tesla reported that Tesla delivered 936172 cars in 2021, and the Shanghai Gigafactory made a significant contribution to those figures. According to Tesla's earnings report, the company's total revenue in 2021 was $53.823 billion, which means that the Chinese market accounts for 25.7% of its total revenue.
Given the success of Tesla's Shanghai Gigafactory, the contribution of The Krasas and Berlin Gigafactories to Tesla's revenue will also be exciting in the near future. Tesla's Gigafactory in Texas is expected to deliver the first Model Y cars equipped with structural battery packs and 4680 cells soon. Tesla's Berlin Gigafactory has yet to receive final approval.
Tesla also plans to increase capacity at the Fremont plant and the Nevada Gigafactory. On the last earnings call, Musk shared that Tesla is looking for a new Gigafactory location. Tesla plans to announce a new Gigafactory location by the end of 2022.