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Tesla Reiterates Plan to Make EVs in China, Eventually
Tesla Motors Inc. says it is negotiating in China to begin building its electric vehicles there.
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Tesla Motors Inc. says it is negotiating in China to begin building its electric vehicles there. CEO Elon Musk says local production would lower the price of Tesla cars sold in the country by about one-third.
Tesla’s Model S electric sedan has a U.S. base price of $75,000. The cheapest model offered in China retails for about 673,000 yuan ($106,200). Tesla attributes the difference to shipping cost and local import tariffs.
Musk said earlier this year that Tesla might begin making cars in China within three years. He reiterated that timetable on Monday. Musk says the company won’t consider Chinese production until its $35,000 Model 3 electric sedan debuts in about two years.
In the meantime, Tesla presumably would need to find a local production partner. That's because current Chinese regulations prohibit foreign carmakers from owning more than 50% of their production operations in the country.
Tesla currently sources cars for China from its factory in California. The company also performs final assembly work at a facility in the Netherlands for cars sold in Europe.
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