Tesla is seeking approval from the Chinese authorities to build the long-range variant of its Model 3. If it gets approval, it will no longer have to import the vehicle from the United States.
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Tesla has announced that it made 112,000 deliveries of Model S, Model X, and Model 3 vehicles in the fourth quarter of 2019. This exceeds Wall Street's expectations which were set at 106,000.
Tesla has managed to slash around 55,000 yuan ($8,000) from the starting price of its Model 3. The reduction was possible, in part, because the Chinese government was offering subsidies.
Making good on its promise, at Tesla's multi-billion dollar 'Gigafactory' in Shanghai, the company delivered its first batch of 'Made in China' Tesla Model 3 cars to its employees today.
Tesla has agreed to a 9 billion yuan loan with several banks in China. The firm plans to use the money to pay off debt it has and will invest the rest in construction and production at Gigafactory 3.
Sources have said that Tesla is considering two price increases for customers in China. The first is due on August 30, while a second could arrive in December. No official statement has been released.
Sources familiar with the matter have suggested that Tesla is going to hike vehicle prices in the Chinese market due to uncertainty around the Chinese yuan. The price hike is expected in September.
Tesla has announced that it is slashing the prices of the Model S and Model X in China by 12 to 26%. The move comes several months after the firm boosted prices by 20% in response to tariffs.
Tesla has announced that it aims to churn out 10,000 Model 3 vehicles by producing 3,000 units each week at its Gigafactory 3 in China. The move will help it deal with trade tariffs too.