AIRLINK 196.38 Increased By ▲ 4.54 (2.37%)
BOP 10.11 Increased By ▲ 0.24 (2.43%)
CNERGY 7.75 Increased By ▲ 0.08 (1.04%)
FCCL 38.10 Increased By ▲ 0.24 (0.63%)
FFL 15.74 Decreased By ▼ -0.02 (-0.13%)
FLYNG 24.54 Decreased By ▼ -0.77 (-3.04%)
HUBC 130.38 Increased By ▲ 0.21 (0.16%)
HUMNL 13.73 Increased By ▲ 0.14 (1.03%)
KEL 4.60 Decreased By ▼ -0.07 (-1.5%)
KOSM 6.19 Decreased By ▼ -0.02 (-0.32%)
MLCF 44.85 Increased By ▲ 0.56 (1.26%)
OGDC 206.51 Decreased By ▼ -0.36 (-0.17%)
PACE 6.58 Increased By ▲ 0.02 (0.3%)
PAEL 39.77 Decreased By ▼ -0.78 (-1.92%)
PIAHCLA 17.20 Decreased By ▼ -0.39 (-2.22%)
PIBTL 7.99 Decreased By ▼ -0.08 (-0.99%)
POWER 9.20 Decreased By ▼ -0.04 (-0.43%)
PPL 178.91 Increased By ▲ 0.35 (0.2%)
PRL 38.93 Decreased By ▼ -0.15 (-0.38%)
PTC 24.31 Increased By ▲ 0.17 (0.7%)
SEARL 109.27 Increased By ▲ 1.42 (1.32%)
SILK 1.00 Increased By ▲ 0.03 (3.09%)
SSGC 37.75 Decreased By ▼ -1.36 (-3.48%)
SYM 18.83 Decreased By ▼ -0.29 (-1.52%)
TELE 8.53 Decreased By ▼ -0.07 (-0.81%)
TPLP 12.14 Decreased By ▼ -0.23 (-1.86%)
TRG 64.76 Decreased By ▼ -1.25 (-1.89%)
WAVESAPP 12.11 Decreased By ▼ -0.67 (-5.24%)
WTL 1.64 Decreased By ▼ -0.06 (-3.53%)
YOUW 3.87 Decreased By ▼ -0.08 (-2.03%)
BR100 12,000 Increased By 69.2 (0.58%)
BR30 35,548 Decreased By -112 (-0.31%)
KSE100 114,256 Increased By 1049.3 (0.93%)
KSE30 35,870 Increased By 304.3 (0.86%)

US electric vehicle maker Tesla Inc will begin delivering Model 3 vehicles built at its Shanghai factory on Monday, a company representative told Reuters. Construction of its first plant outside the United States began in January and production started in October. It aims to produce 250,000 vehicles a year after production of the Model Y is added in the initial phase.

The first 15 customers to get the cars on Dec 30 are Tesla employees, the company representative added. The delivery date of Dec. 30 means that the plant will start delivering cars to customers just 357 days after the factory's construction started, which will mark a new record for global automakers in China.

The China-made cars are priced at 355,800 yuan ($50,000) before subsidies and Tesla has said it wants to start deliveries before Chinese new year beginning on Jan. 25. The Shanghai plant is part of the Silicon Valley automaker's plans to bolster its presence in the world's biggest auto market and minimise the impact of the US-China trade war.

The carmaker already treats China, the world's biggest electric vehicle market where 1.3 million new-energy vehicles were sold last year, differently than elsewhere, with offerings such as racing events and showroom parties.

It is also building service centres and charging stations across China to assure customers of standardised after-sales service, Reuters reported last month.

The Chinese government has also been supportive of the factory, which is China's first wholly foreign-owned car plant and a reflection of the government's broader shift to open up its car market.

The Ministry of Industry and Information Technology on Friday said it had added Tesla's China-made Model 3 to a list of new energy vehicles exempt from purchase tax. The ministry had said in August it had exempted all of Tesla's models from purchase tax.

Copyright Reuters, 2019

Comments

Comments are closed.