Tesla’s Chinese-built Model 3 cars would receive state subsidies

by SpeedLux
Tesla Model 3 spied

Tesla Inc stated on Friday that its Chinese-built Model 3 cars would get state subsidies, a move that will significantly help the electric automaker’s push into the world’s biggest auto market.

China’s industry ministry had previously stated Tesla’s Model 3 cars, being constructed at its $2 billion factory located in Shanghai, were on a list recommended for subsidies for new energy vehicles (NEVs), which consists of plug-in hybrids, battery-only electric vehicles and those functioned by hydrogen fuel cells.

Tesla stated the subsidies had been secured.

Two variants of Tesla Model 3 vehicles are on the list for the NEV subsidy program, as per the website of China’s Ministry of Industry and Information Technology.

The California-based electric vehicle maker intends to make over 1,000 vehicles a week by the end of 2019 for its Shanghai plant and provide the China-made vehicles before the Chinese new year on January 25.

The yearly capacity at the factory in its first phase is anticipated to reach 250,000 vehicles, equating to about 4,800 a week. This will consist of 150,000 Model 3 cars.

It is not yet clear how much of a subsidy the vehicles would receive. The starting cost for China-made Model 3 cars is 355,800 yuan ($50,550), according to Tesla’s website.

China hopes sales of NEVs which makes up around 4.6% of the overall market in the last year, can reach a quarter of car sales in 2025.

Tesla, led by billionaire Elon Musk, is preparing a broad after-sales network in China.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

SpeedLux

SpeedLux is a high-authority automotive blog providing the latest automotive news and reviews. SpeedLux covers everything related to cars, bikes, and motorcycles, from news and reviews, to troubleshooting guides, tips and tricks, and more. SpeedLux was born in 2009 and we have over 20,000 articles published on our blog. We thank all our readers, as well as our partners, without whom we could not have reached this level.

Subscribe

©2009 – 2024 SpeedLux – Daily Automotive News and Reviews. All Right Reserved.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More