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Tesla to Reportedly Increase Imported Model 3 Prices in China

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Citing unnamed sources familiar with the matters, a report by Reuters is claiming that Tesla is planning to increase the prices of imported Model 3 vehicles in China in January. The electric car maker will reportedly increase prices of imported Model 3 vehicles with longer range and those with performance function.

Model 3

The report comes as Tesla aims to deliver China-made Model 3 sedans, which are priced at 355,800 yuan (CAD $66,655), to customers before Jan. 25 next year. The company is currently in the process of building a car plant in Shanghai as well.

At present, Tesla’s Model 3 vehicles with longer range and those with performance function are priced at 439,900 yuan (CAD $82,405) and 509,900 yuan (CAD $95,518) respectively in China. So far, it is not known by how much the company plans to increase the prices.

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The electric car maker started production in its Shanghai factory in October on a trial basis and aims to produce at least 1,000 Model 3 cars a week by the end of this year. The $2 billion plant is also Tesla’s first car manufacturing site outside the U.S.

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