Market Overview

Tesla To Begin Delivering China-Made Model 3 To Public On Jan. 7

Tesla To Begin Delivering China-Made Model 3 To Public On Jan. 7

Tesla Inc (NASDAQ: TSLA) said it would start delivering its first Chinese-made Model 3 sedans to the public on Jan. 7, Reuters reported.

What Happened

The U.S. automaker is organizing an event at its Shanghai plant on Jan. 7 to start making public deliveries of its Model 3 sedans, sources told Reuters on Thursday.

The first 15 units of the sedan were already delivered on Monday to the Tesla employees who had pre-ordered it.

With that, the company has delivered the models in less than one year, beating its self-imposed deadline of Jan. 25.

The company earlier said it would start delivering the model before the Chinese New Year, which begins Jan. 25, priced at $50,000 (355,800 yuan) in China before subsidies.

The Elon Musk-led company started production of Model 3 sedans in October 2019 and started taking orders for the model in China for a deposit of $1,153.60 (8,000 yuan) in November 2019.

The sales for the Model 3 sedans had been “very good” so far, and the company is keeping a target of producing 1,000 units a week, or around 280 cars a day, sources told Reuters.

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Posted-In: China Elon MuskNews Retail Sales Global Tech Media General Best of Benzinga


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