China-made Tesla to Begin Full Delivery from the 7th..."Price 50 Million Won"

[Image source=Reuters Yonhap News]

[Asia Economy Beijing=Special Correspondent Sunmi Park] Tesla's 'Model 3' vehicles produced at the Shanghai factory in China will be officially delivered to the public starting from the 7th.

On the 3rd, Tesla announced through its official WeChat account that the China-made Tesla 'Model 3' vehicles will begin to be delivered to the general public from the 7th. The price starts at 299,050 yuan (approximately 49.98 million KRW) after applying government subsidies.

Tesla initially set the sales price of the Tesla 'Model 3' at 355,800 yuan before subsidies, but lowered it by 9% to 323,800 yuan ahead of the official delivery. This is a strategy to attract Chinese customers in China, the world's largest electric vehicle market. Tesla's confidence in controlling production costs and its strong intention to rapidly increase market share are cited as reasons behind this price reduction.

Tesla plans to increase the proportion of parts sourced domestically in China for the Model 3 from the current level of about 30% to 100% by the end of the year to maximize cost reduction effects.

On the 30th of last month, Tesla delivered the 'Model 3' produced at its China factory to 15 of its employees for the first time. This was achieved 357 days after the groundbreaking of the Shanghai factory, setting the shortest delivery record among global automakers that have entered China.

Meanwhile, Tesla's Shanghai factory is the first automobile factory in China wholly owned by a foreign company. It symbolizes the expansion of China's automobile market opening.

This content was produced with the assistance of AI translation services.