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Tesla Starts Collecting Deposits for Model 3 EVs in China
Tesla Inc. has begun accepting 8,000-yen ($1,200) deposits for its Model 3 electric sedan in China.
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Tesla Inc. has begun accepting 8,000-yen ($1,200) deposits for its Model 3 electric sedan in China. CEO Elon Musk says deliveries will begin there by April.
The company received approval last month to erect a $2 billion EV assembly plant in Shanghai to make the Model 3 and upcoming Model Y small crossover. That facility will have annual capacity to make 250,000 EVs when it fully opens at least two years from now.
Tesla hopes to be able to begin limited local assembly at the factory much sooner, according to Reuters. The news service says the plan would enable output as great as 3,000 Model 3s per week.
Local production would allow Tesla to avoid the 40% import tariff on American-made cars that China has imposed in response to escalating tariffs on its goods by the U.S.
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