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Musk Reduces Price for Fully China-made Tesla Model 3 Sedans Before Public Delivery

U.S. electric vehicle (EV) manufacturer Tesla cut the beginning price for its China-made Model 3 sedans by 16% to 299,050 yuan ($42,919) after receiving Chinese units for EV, in response to its China website.

The reduction, partly because of 24,750 yuan of grants, from a previous 355,800 yuan is among a slew of changes Tesla has made to its sales policy in China, along with tweaking prices for automotive equipment and home charging facilities.

Tesla has said it intends to begin delivering vehicles, made at its $2 billion manufacturing facility in Shanghai, to the public on January 7.

Fifteen Tesla staff who had purchased the automotive were the first to take delivery on Monday after the first China-made automobiles rolled off the plant’s manufacturing facility in October.

The deliveries come a year after the building of Tesla’s only plant outside the U.S. started.

Earlier this week, Tesla stated that 30% of its China supply chain was localized, which implies some automotive components are shipped in to build its automobiles.

The EV automaker wants to localize its China supply chain by end-2020 completely, it stated at the time.

Tesla plans to ramp up Model 3 deliveries in January and can double the number of service facilities and fast-charging stations in China this year, its officials have stated.

The plant has achieved a production goal of 1,000 units per week or around 280 automobiles per day, and that sales for the China-made sedan had so far been “very good”, based on the executives.

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