Tesla is taking the Model 3 to China.
The electric carmaker said in statement Friday that it will begin delivering its Model 3 sedans to buyers in China starting in March as part of its efforts to expand sales in the country. Tesla’s sales in China have reportedly seen some negative effect of the trade issues going on between Beijing and Washington.
Tesla has two versions of the Model 3 lined up to deliver to Chinese buyers. The Model 3 Performance car has a range of almost 370 miles and will start at around the equivalent of $81,500. The Model 3 Dual Motor all-wheel drive vehicle will come with an initial price tag of about $72,600 and have a battery range of around 366 miles.
By contrast, a Model 3 in the U.S. usually costs upwards of $55,000 with certain amenities and extras included. Tesla is aiming to have a Model 3 on the market in the U.S. for $35,000 at some point this year.
The move to deliver Model 3 cars to China comes after Tesla on Wednesday reported fourth-quarter deliveries of 63,150 Model 3 cars, which was a 13 percent increase over its third-quarter deliveries. However, Tesla’s shares took a beating, falling almost 7 percent, after its vehicle-delivery report as the company’s results failed to live up to some Wall Street analysts’ expectations.
Tesla is also in the process of building a so-called Gigafactory in Shanghai, which the company has said will be capable of producing up to 500,000 vehicles a year. No date has been set for either the completion of the Shanghai Gigafactory, or for when it may being producing Tesla cars.
