Tesla To Cut Made-In-China Price By Over 20%

In 2020, Tesla Gigafactory 3 in Shanghai, China which has already started to mass-produce battery cells along with Tesla Model 3 and Model Y, is set for an initial production rate target of 250,000 electric cars per year.

There are now breaking-rumors that Tesla is considering cutting the price of its Made-in-China Model 3 sedans by a minimum of 20% in 2020, people familiar with the matter snitched to Bloomberg, betting the move will lure buyers as the world’s biggest electric-vehicle market slows.

Tesla aims to lower costs by using more local components, allowing it to import fewer parts and avoid tariffs, said the people, who asked not to be identified discussing internal deliberations. Prices of the cars, which will be built in a new factory near Shanghai and start at 355,800 yuan ($50,800), will probably be lowered from the second half of 2020, they said.

Tesla Model 3 made in Gigafactory Shanghai (Source: Jason Yang | YouTube)

Tesla C.E.O “Elon Musk” has bet everything he has on this bank breaking Shanghai plant, which the solid hope that this will make Tesla as a whole a profitable car manufacturer one day. This is surely working at the moment as Tesla stock is presently trading around $388 as at now.

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