Tesla has begun shipping the Shanghai-made Model Y in China

Tesla has begun delivering locally manufactured Model Y, another milestone for the manufacturer in the world’s largest vehicle market.

Chinese state news agency Xinhua said shipments began on Monday, but no information was received on how many Model Ys had been delivered so far, nor whether the shipments were made to employees or retail customers.

China is one of Tesla’s main markets, with 120,000 of the nearly half a million cars sold last year finding owners in China. One of the key markets for further expansion is China, the carmaker would increase its total sales to 20 million over the next decade, and the largest electric car market plays an important role in the plan.

The company began production of the Model 3 at the Gigafactory in Shanghai back in late 2019, which the company built in less than a year. With the production of Model Y in Shanghai, the company’s two most popular models are now available in local production, saving the company costs.

Tesla’s share price has risen nearly 17 percent this year.


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Source: Portfolio.hu – Befektetés by www.portfolio.hu.

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