BR100 Increased By (0.01%)
BR30 Increased By (0.53%)
KSE100 Increased By (0.28%)
KSE30 Increased By (0.29%)
AGHA 6.35 Increased By ▲ 0.03 (0.47%)
BECO 4.39 Increased By ▲ 0.12 (2.81%)
BML 62.50 Increased By ▲ 0.05 (0.08%)
BOP 31.47 Increased By ▲ 0.24 (0.77%)
CNERGY 11.70 Increased By ▲ 0.11 (0.95%)
CSIL 5.92 Increased By ▲ 0.20 (3.5%)
FCCL 61.60 Increased By ▲ 0.06 (0.1%)
FFL 14.79 Decreased By ▼ -0.23 (-1.53%)
FNEL 1.23 No Change ▼ 0.00 (0%)
KEL 6.33 Increased By ▲ 0.07 (1.12%)
KOSM 5.90 Increased By ▲ 0.34 (6.12%)
LOTCHEM 24.79 Increased By ▲ 0.11 (0.45%)
MLCF 103.93 Decreased By ▼ -0.15 (-0.14%)
NBP 173.05 Decreased By ▼ -2.23 (-1.27%)
NCPL 51.85 Decreased By ▼ -0.92 (-1.74%)
NPL 54.19 Increased By ▲ 0.07 (0.13%)
OGDC 315.50 Increased By ▲ 2.11 (0.67%)
PACE 9.26 Increased By ▲ 0.06 (0.65%)
PAEL 35.51 Decreased By ▼ -0.29 (-0.81%)
PIBTL 13.65 Increased By ▲ 0.18 (1.34%)
PPL 226.60 Increased By ▲ 4.79 (2.16%)
PRL 80.30 Increased By ▲ 1.22 (1.54%)
PTC 46.89 Increased By ▲ 0.04 (0.09%)
SSGC 23.90 Increased By ▲ 0.03 (0.13%)
TBL 9.30 Decreased By ▼ -0.01 (-0.11%)
TELE 7.65 Increased By ▲ 0.26 (3.52%)
TPL 24.51 Decreased By ▼ -0.60 (-2.39%)
TPLP 13.04 Increased By ▲ 0.53 (4.24%)
TREET 26.05 Decreased By ▼ -0.20 (-0.76%)
TRG 53.38 Decreased By ▼ -0.06 (-0.11%)

US electric vehicle maker Tesla Inc will begin delivering Model 3 vehicles built at its Shanghai factory on Monday, a company representative told Reuters. Construction of its first plant outside the United States began in January and production started in October. It aims to produce 250,000 vehicles a year after production of the Model Y is added in the initial phase.

The first 15 customers to get the cars on Dec 30 are Tesla employees, the company representative added. The delivery date of Dec. 30 means that the plant will start delivering cars to customers just 357 days after the factory's construction started, which will mark a new record for global automakers in China.

The China-made cars are priced at 355,800 yuan ($50,000) before subsidies and Tesla has said it wants to start deliveries before Chinese new year beginning on Jan. 25. The Shanghai plant is part of the Silicon Valley automaker's plans to bolster its presence in the world's biggest auto market and minimise the impact of the US-China trade war.

The carmaker already treats China, the world's biggest electric vehicle market where 1.3 million new-energy vehicles were sold last year, differently than elsewhere, with offerings such as racing events and showroom parties.

It is also building service centres and charging stations across China to assure customers of standardised after-sales service, Reuters reported last month.

The Chinese government has also been supportive of the factory, which is China's first wholly foreign-owned car plant and a reflection of the government's broader shift to open up its car market.

The Ministry of Industry and Information Technology on Friday said it had added Tesla's China-made Model 3 to a list of new energy vehicles exempt from purchase tax. The ministry had said in August it had exempted all of Tesla's models from purchase tax.

Copyright Reuters, 2019

Comments

Comments are closed for this article.