Tesla's Model 3 will be on the roads in China in January

Tesla’s $2 billion Shanghai plant has produced the first batch of Model 3 electric cars in less than a year – a remarkable and record-making feat for any automobile manufacturer in China. Production is expected to increase in January when the car will likely be widely seen on China’s roads. Tesla celebrated the initial delivery of its China-made Tesla Model 3 vehicles on Monday when 15 of its employees were handed over the keys to their all-new Tesla Model 3 that they purchased earlier. One of these employees took it a step further and proposed his girlfriend after receiving the car. The U.S. based electric automobile manufacturer created and led by the renowned Elon Musk was wary of the US-China trade war and accordingly invested $2 billion in the Shanghai plant. Musk’s vision included ensuring that Tesla had a stronghold in the world’s largest electric car market- China.

Tesla’s Shanghai Factory Is The First One In China That Is Entirely Foreign-Owned

Prior to the Tesla’s factory in China, the manufacturer had to import all of its vehicles to be delivered to the Chinese customers. However, with the new Shanghai plant in place, the company has decided to begin delivering domestically manufactured vehicles by the beginning of the new lunar year on January 25th. Wang Hao, the Chinese General Manager has confirmed that the production of Model 3 electric cars will be increased in January and the cars are likely to be widely seen on China’s roads in the upcoming months. The support of the Chinese government has also played an imperative role as the Model 3’s delivery ceremony was graced with the presence of several government representatives. The Shanghai factory is the very first plant in China that is completely owned by a foreign entity. Traditionally, companies must have Chinese investment in order to operate within the country. This move suggests that China is shifting its policy in some respects, to facilitate the automobile market.

China Sold Over 1.3 Million Electric Vehicles In 2018

In 2018, over 1.3 million electric vehicles were sold in China- as marketing efforts for the country are different from other countries. Although Musk is critically against marketing activities and promotional pushes, China is another story altogether. Tesla has hosted several promotional events in the country including showroom extravaganza and racing shows. Additionally, several service centres and charging stations have been opened around the country to facilitate customers, taking care of the after-sales aspect of the purchase. Plans to hire more people in the after-sales workforce and to increase the number of service centers in the country are to be extended in the next year. Reportedly, sales are excellent for the new electric car and production stands at about 1,000 cars a week, which is equivalent to about 280 cars a day. Next year, production of the Model Y is to begin that shows a very promising trend for Tesla stock, which has shown major spikes (around 40%) in 2019 as well.