By Jon Russell
Tesla’s big bet on China-based production is key to a new effort to lure Chinese consumers with cheaper prices. Today the U.S. firm revealed that its incoming Model 3, which will be produced in China, will sell from 328,000 RMB — that’s around $47,500 and some 13 percent cheaper than its previous entry-level option.
The company opened pre-orders for the vehicle today, although it only broke ground on its Shanghai-based factory in January of this year. Customers who do plonk down cash for a pre-order this week — deposits start from 20,000 RM — can expect to receive their vehicle in 6-10 months, according to Tesla.
Despite the competitive prices, the higher spec Model 3 will continue to be shipped from the U.S, according to Reuters. The publication added that it isn’t clear if the made-in-China Tesla will qualify for EV subsidies from the government.
Beyond China, the Model 3 also went up for pre-order in Australia, Hong Kong, Japan, New Zealand, Ireland and Macau, the company said.