Tesla will deliver its first China-made Model 3 sedans to the public on Jan. 7, a week after its symbolic deliveries to 15 employees, the company said Friday in a WeChat post.
The Jan. 7 deliveries come one year after Tesla broke ground on the multibillion-dollar Shanghai factory, which the American carmaker is counting on to bolster its presence in China and lessen financial pains caused by the trade spat between Beijing and Washington.
In a bid to carve out more market share in China, the world’s biggest auto market, Tesla also lowered the starting price of the domestically-built Model 3 sedan to 323,800 yuan ($46,500) from 355,800 yuan. After subsidies, the price starts from 299,050 yuan, according to Tesla’s website.
Model 3 sedan was listed on two government lists, one exempting it from a 10% purchase tax and another granting it a subsidy, as the company vies to threaten domestic brands such as BYD and Nio.
Bloomberg reported last month that localization would help Tesla cut prices by at least 20% in 2020.
Tesla CEO Elon Musk has said that the Shanghai plant aims to churn out 3,000 cars per week.
Contact reporter Ding Yi (yiding@caixin.com)
Related: Tesla Delivers First China-Built Cars to Employee Customers
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