Tesla Officially Launches Model 3 in China, Announces a Cheaper Version is On the Way

Tesla has today officially announced the launch of the performance version of its Model 3 sedan in China while noting that it has also started taking preorders for a cheaper version of the car, which will start at 433,000 yuan (approx. $64,000), Business Insider is reporting.


According to the press release, the long-range rear-wheel-drive version of the Model 3 sedan starts at roughly $83,000 in China, which is significantly higher than the same version in the US. Even the less expensive version of Model 3 starts at around $51,000 in the US.

Tesla recently broke ground on a new factory in Shanghai where the company says it will eventually build Model 3s. “By the end of this year, we expect to be producing Model 3s using a complete vehicle production line,” CEO Elon Musk said of the factory earlier this week.

Below is from today’s official press release (translated from Chinese):

“After the Model 3 Performance all-wheel-drive version and the Long-Range all-wheel-drive version were officially opened in mainland China in early January 2019, today, Tesla announced that the Model 3 Long-Range rear-wheel drive version will also officially land in mainland China. From now on, consumers can log in to Tesla China official website or go to the Tesla Direct Experience Center to make reservations and configurations. The Model 3 Long Range rear-drive version will have a Chinese standard cruising range of no less than 600 kilometers “, starting at RMB 433,000 . The arrival of this model provides another cost-effective choice for Chinese consumers.”

While customers in China can place an order right now for the less expensive Model 3, Tesla says the vehicle is going to arrive in March.