Tesla to deliver Model 3s made in China next week

Tesla is set to start delivering its first Chinese made Model 3 vehicles to the public on 7 January at an event at its Shanghai plant, a representative for the firm told Reuters on Thursday.

Three days before, 15 Tesla employees who had purchased a car became the first to receive the first China-made vehicles, which had begun to roll-off the plant’s assembly line in October.

Including the Modely Y, the firm was targeting production of 250,000 vehicles a year.

The Model 3 was priced to go at 355,800 yuan ($50,000) before subsidies.

Tesla’s China General Manager, Wang Hao, said the company was already planning to ramp-up Model 3 deliveries in January, Reuters added.

Tesla's stock had run up by 72% over the preceding three months after the company posted an unexpected third quarter profit and thanks to the excitement around its plans for China and strong demand in Europe.

The shares were trading 1% higher at US$422.40 in pre-market New York dealings on Thursday.