Tesla cars to be approved for sale in Israel

Tesla Inc cars are about to be approved for use in Israel. The Transportation Ministry is set to authorize the entrance of the US electric automaker within the next day or so, a ministry spokesman said Monday.

Tesla was originally set to introduce its commercial operations in Israel in January and was set to open a pop-up store in Tel Aviv’s Ramat Aviv Mall. However, the launch was postponed by regulatory hurdles.

Details regarding the company’s operations in Israel will be known once the approval is finalized.

Tesla’s Model 3 could be available for purchase in the coming days, with a sticker price of NIS 250,000 to NIS 350,000 ($78,440 to $109,810), reports in the Hebrew press indicated.

Tesla develops high-performance electric vehicles, autonomous-driving technologies, and high-speed charging solutions.

Over the weekend, Tesla said it had produced half a million cars in 2020, a significant milestone for the company and a 40% boost from 2019. The company’s stock has been one of the favorites of the stock market’s recovery over the past year, with 740% growth during 2020.