The Model 3 Sedan built in China factory is now in the hands of the few lucky customers. As Tesla has delivered its first batch of Model 3 electric cars, manufactured in Shanghai factory. Tesla began work on the $2 billion Shanghai plant in January 2019 and achieved another milestone by delivering the china-made cars with-in year. Company aims to boost deliveries from next month.
The automaker had announced the plans to start deliveries before the Lunar New Year which begins on January 25. Previously the company was selling all cars in China after exporting from U.S.
Price of China-made sedans Model 3 is 355,800 yuan ($50,000) without subsidies while imported Model 3 cars cost 439,000 yuan which is a longer range version. The same model costs $40,000 in US.
A giant US Electric car maker’s plant in Shanghai is a first-ever wholly foreign-owned car plant in China and the Tesla’s first-ever giga factory outside of US. Chinese govt has also been supportive in setting up of this factory. It is expected to significantly encourage the sales of electric cars in China.
Vice President Tesla Tao Lin said at an event of delivery ceremony that now China-made Model 3 will be soon running on China’s roads. Another Tesla official said Tesla will ram up Model 3 deliveries in January.
According to a senior executive the company is already building services centers and fast charging stations to facilitate the Chinese customers. China’s market for the electric cars is huge as just in last year about 1.3 million new electric vehicles were sold.
The company will double the number of service centers and charging station in China by next year and has plan to double also the aftersales-workforce to 1,500, while currently company has its workforce of 600 in China. According to same executive the company has successfully achieved the target related to production of 1,000 units a week or 280 cars a day and sales for sedan made in China has been very good.
Patrick Davis is an author, journalist and CEO of newsdegree.com, a leading stocks and markets website. He has more than 5 years of experience in institutional investment markets, including fixed income, equities, derivatives and real estate. He has a Bachelor in Business Administration with a major in Finance. He bought his first stocks in a private business at age 15 and made his first public stock trade at 23. Patrick has always been interested in the stock market and how it behaves.
As the dad of two children, he’s made saving money and investing for them a high priority. Over many years of investing, he has made some wise choices and he’s made many mistakes. But he’s learned from both. Mr. Patrick observations and experience give him the insight to stock market patterns and the investor behaviors that create them.
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