Tesla (TSLA) stock rallied after CEO Elon Musk tweeted that the Model S Plaid may launch in China as early as March. Meanwhile, recent IPO Rivian (RIVN) sank on reports of subpar battery performance in its electric delivery vans.
On Sunday night, Musk — when asked when the luxury sedan would be available in China — tweeted, “Probably around March.”
Tesla launched the Plaid in June 2021. The 520-mile range car can notch 200 miles per hour and retails for a reported $129,990.
For Tesla, the Chinese market remains key to its success. Wedbush analyst Daniel Ives said in a recent report to analysts that “the linchpin to the overall bull thesis on Tesla remains China, which we estimate will represent 40% of deliveries for the EV maker in 2022.”
Meanwhile, a recent Amazon test of a Rivian electric van showed that the battery’s performance is below the EV startup’s claims.
