Tesla's China sales have grown to nearly half the company's sales in the U.S.

Elon Musk's electric car company reported sales of $3.11 billion in China in the third quarter, or 48.5% of the $6.41 billion U.S. sales during that time, according to a filing Monday.

China's share in Tesla's overall sales rose to 22.6% in the third quarter, up from just under 20% a year ago. Tesla shares hit a record high — and a $1 trillion market cap — in New York trading Monday after rental company Hertz announced it would buy 100,000 Tesla cars by the end of next year.Tesla China-made Model 3 vehicles are seen during a delivery event at its factory in Shanghai, China January 7, 2020.Elon Musk's electric car company reported sales of $3.11 billion in China in the third quarter, or 48.5% of the $6.41 billion U.S.

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That’s because of the Giga Shanghai manufacturing facility. Just wait until Giga Texas ramps up production starting in the next few months.

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