Mass production of the redesigned Tesla Model 3 could begin in China as early as next month, Bloomberg reported today, citing people familiar with the matter.
According to the report, the US electric vehicle (EV) maker is in the final stages of creating a demonstration vehicle that will be delivered to Tesla’s showroom in August.
Mass production of the redesigned Model 3 is expected to begin in September, with production starting in time for China’s National Day.
October 1 is China’s national holiday, and this year’s public holiday is from September 29 to October 6, with the Mid-Autumn Festival on September 29. October 7th and 8th will be working days, even though they are weekends.
The redesigned Model 3’s exterior and interior have been changed to make the car more attractive, a person familiar with the matter said, adding that the price will be lower than it is now if fully developed.
Apparently, local media outlet China Securities Journal quoted a person familiar with the matter as saying that according to yesterday’s report, Tesla has redesigned the Model 3 and is expected to go on sale in China within half a month.
Tesla Revamped Model 3 Mass Output
According to the report, while Tesla is offering several contracts for the Model 3 in China, customers prefer to wait for an updated version of the model.
Meanwhile, some Tesla stores have already started accepting pre-orders for the redesigned Model 3 from Chinese customers, the China Securities Journal reports.
Earlier today, another local media outlet, Yicai, reported that officials at Tesla stores in China said the new Model 3 will go on sale in September or October.
Tesla stores have already started taking orders for the redesigned Model 3, the report said, citing a report from the China Securities Journal yesterday.
On March 1, Reuters reported that Tesla was working to rebuild the Shanghai assembly plant for a redesigned version of the Model 3, a project Tesla is calling Highland.
The Model 3 Highland version is expected to arrive in Shanghai in September, Reuters reported, citing a person familiar with the matter.
On July 7, local media agency Jiemian reported that the production line configuration of the modified Model 3 is almost ready, and the test model will be tested on the company’s roads this weekend.
On August 14, Tesla cut the price of the two cheapest Model Y models by RMB 14,000 ($1,920) and offered an insurance subsidy of RMB 8,000 for the entry-level Model 3.
Tesla (NASDAQ: TSLA )
will begin mass production of the upgraded Model 3 electric car in China as early as next month, according to people familiar with the situation.
The sources, who chose to remain anonymous because the details have not been made public, revealed that Tesla is nearing the end of production of the demonstration car.
The cars are scheduled to be delivered to Tesla showrooms in the second half of August, with many being produced soon. The rollout will be expedited during the Chinese national holiday, which begins on September 30, the people added.
The four-door sedan was released in 2017 and gained great popularity not only in the United States. But also in China and Europe. However, it has slowly lost its competitive edge in China, which is the world’s largest auto market. This is especially evident when electric vehicle offerings from local players. Such as BYD Co (SZ: 002594) and Xpeng Inc (NYSE: XPEV ) appear.
Just a few days ago, Tesla dropped the prices of many of its models in China to boost sales. The move raised concerns that the company could start a new price competition. In addition, Tesla has decided to extend the insurance premium. Of 8,000 yuan (equivalent to $ 1,100) on the Model 3 sedan. This support will last until the end of next month.
Shares of TSLA traded up 0.37% in pre-market trading on Thursday.
The upgraded Tesla Model 3 EV, is known as Project Highland. Is said to go on sale in China early this month, according to local news agency Chinese Securities Journal. Cited by CnEVPost, reports.
Speaking to the analyst, the source says that although. Tesla is currently offering many deals on the current Model 3 in China. Many buyers prefer to wait for the EV.
The American electric car brand is offering an 8,000 RMB (US$1,100) insurance subsidy. And a 3,500 RMB (US$500) deposit for those who choose an off-the-shelf Model 3. Waiting for an updated version will void insurance coverage. But customers can still get a referral bonus if they receive a report within 60 days.
CnEVPost reports that some Tesla stores in China are already taking reservations. For the new Energy Model 3, although the car is not yet on sale, at least not officially.
Last week, we wrote about another story from the Chinese media company JRJ in the region. Tesla’s facelift model has already started trial production in Shanghai. With plans for series production next month, and the first delivery.
If true, it would explain why the American automaker has changed the delivery date. The Chinese-made 3-door model in Europe, moving the latest delivery date from August to October.
Tesla Revamped Model 3 Mass Output
According to earlier leaks and spy photos, the updated EV is expected to get a new face with new headlights. And new taillights with horizontal turn signals instead of the current one. In addition, it is rumored that the most expensive model of the brand is cheaper. To build thanks to a better production process, which also reduces retail costs.
Inside, the Model 3 comes with a new dashboard. New door cards and ambient lighting, and the brand’s latest 4.0 driver assistance system.
As always, we want to know what you think about it. So head to the comments section below and tell us what you think.