Home Business Tesla Inc announces its Model 3 which would now be available in...

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Tesla Inc announces its Model 3 which would now be available in China

Earlier on Friday, 4th January, Tesla Inc made an announcement stating that it would begin delivering Model 3 cars to customers based out of China from the first week of March, and in the process fortifying a time frame that was given by the U.S. electric vehicle (EV) maker’s chief executive, Elon Musk, via Twitter during the latter half of the previous year.

Earlier in the previous week, via a statement published on its official site, the California-based firm, that targets to boost Chinese sales which have taken a toll due to the impact of trade tension between Washington and Beijing, announced that the starting price for a Model 3 in China would be 499,000 yuan ($72,000).

Significantly in the past couple of months, Tesla cut prices for its Model 3 for the third time in an effort for the firm to adjust prices in the Chinese Market.

Back in November, the prices of Tesla’s Model S and Model X was cut by 12 percent to 26 percent in China by the company.

Back in the previous month, a report published by Reuters showed that a tender process to build a $2 billion plant in Shanghai dubbed a Gigafactory was launched by Tesla with a contractor already accepting pre-orders for materials.

As per reports, the automaker announced that it initially intends on producing nearly 3,000 Model 3 vehicles per week at its plant in China with a plan to localize its manufacturing and supply chain in the near future.

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