Tesla to start Model 3 sales in March
Automotive News | 2019-1-8
BEIJING -- Tesla Inc. plans to start delivering Model 3 cars to customers in China in March, cementing a time frame that the U.S. electric vehicle maker's CEO, Elon Musk, tweeted about late last year.|
The California automaker, which seeks to accelerate Chinese sales that have been hit hard by the impact of trade tension between Washington and Beijing, said in a statement the starting price for a Model 3 in China would be 499,000 yuan ($72,000).
Tesla cut prices on the Model 3 last month, the third time in the last two months the company has adjusted prices in China.
In November, Tesla cut the prices of the Model X and Model S in China by 12 to 26 percent.
Tesla has begun the process of building a $2 billion plant in Shanghai -- dubbed a Gigafactory -- and at least one contractor has started buying materials, Reuters reported earlier.
The automaker has said it aims to initially produce about 3,000 Model 3 vehicles per week at the plant and localize manufacturing and supply chains.
The factory, Tesla's first in China, marks a major bet by the EV maker as it looks to bolster its presence in the world's biggest auto market where it faces rising competition from a swathe of domestic rivals, while its earnings have been hit by increased tariffs on U.S. imports.
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