Tesla's Shanghai Gigafactory logged a 12-month high in vehicle exports in April at 30,000 units, driven by strong overseas demand for the China-made Model Y, Xinhua News reported Wednesday.

The Model Y, launched globally in China in January, is now shipping to Australia, South Korea, and other Asian markets, according to the report.

The Model Y sparked a buying frenzy in South Korea, crashing Tesla's website and drawing long showroom queues, Xinhua wrote.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)