Tesla Shanghai reportedly making 1,000 cars per week – CNBC

8
56
Tesla Shanghai reportedly making 1,000 cars per week – CNBC

China-built Tesla Model 3 with its brand name in Chinese characters is unveiled at a Tesla store on November 22, 2019 in Shanghai, China. China’s homegrown Tesla Model 3 will be sold at a starting price of 355,800 yuan (about 50,560 US dollars).

Zhang Hengwei | China News Service | Visual China Group | Getty Images

Tesla is producing its Model 3 electric vehicles at a rate of 28 per hour at its new Shanghai plant, or more than 1,000 per week given 10 hours on shift each day, according to a report from the Global Times. The plant was built and began vehicle assembly in just under a year.

The company started delivering the Model 3s to its own employees in China at a ceremony that was live-streamed on Weibo, the Chinese social network, yesterday.

Elon Musk’s electric car and clean energy company began work on the $2 billion plant just under a year ago– setting a record for global automakers in China from ground breaking to start of production.

The China-made Model 3s are selling for around 355,800 yuan (or $50,000) before subsidies.

Tesla intends to make 3,000 vehicles per week at Shanghai “in the near future,” Tesla executives told the Global Times.

Some 30% of the China-made Model 3 parts are sourced in China today, the report says. Tesla aims for that number to climb to 80% by mid-2020. Made-in-China Model 3s should be fully “localized” by the end of 2020, with all parts supplied by Chinese companies.

Tesla sold about 30,000 Model 3s this year in China, according to the report. Tesla has not independently confirmed the numbers to CNBC. The Global Times, where they appeared, is the English-language version of People’s Daily, the official newspaper of the Central Committee of the Communist Party of China.

On Monday, Tesla shares dipped after Cowen analyst Jeffrey Osborne wrote that he expects the company’s full-year delivery total to come in below the low end of guidance, amid disappointing Model S/X results.“We believe Tesla will deliver ~356k vehicles for the year, just slightly missing the low end of the 360-400k delivery guide for the year,” he wrote.

Follow @CNBCtech on Twitter for the latest tech industry news.

8 COMMENTS

  1. Excellent post. I was checking continuously this blog and I am impressed! Extremely useful information specially the last part 馃檪 I care for such information much. I was looking for this certain information for a long time. Thank you and good luck.

  2. Somebody essentially help to make seriously posts I would state. This is the first time I frequented your web page and thus far? I amazed with the research you made to make this particular publish extraordinary. Magnificent job!

  3. Great post. I was checking constantly this blog and I’m impressed! Extremely useful info particularly the last part 馃檪 I care for such info much. I was seeking this particular info for a very long time. Thank you and best of luck.

  4. I have been surfing on-line more than 3 hours today, yet I never found any attention-grabbing article like yours. It’s pretty worth enough for me. In my opinion, if all website owners and bloggers made good content as you probably did, the web will likely be a lot more helpful than ever before. “Dreams have as much influence as actions.” by Stephane Mallarme.

LEAVE A REPLY

Please enter your comment!
Please enter your name here