Tesla’s Chinese-Made Model 3 Gets $47,000 Starting Price

Tesla has opened the order books for the Model 3 vehicles that it will manufacture (and sell) in China.

The car manufacturer has priced its Chinese Model 3s from 328,000 yuan ($47,523), including value-added taxes. While a $47,000 price tag for the Model 3 may seem like a lot, it is 49,000 yuan ($7091) less than the current Model 3s that are imported from the United States.

In a statement, the Palo Alto-based automaker said “the price drop makes Tesla more accessible,” with first deliveries of local-made Model 3s expected to kick off in six to 10 months. Entry-level models in China will have a rated range of 460 km (286 miles).

Also Read: Tesla’s Chinese “Surprise”? Announcing Local-Made Model 3 Pricing On May 31

Tesla is currently in the midst of building its huge Chinese Gigafactory near Shanghai where local Model 3s will be produced. They broke ground at the site in January and expect it to be up-and-running as early as September. Production of Chinese Model Ys will also take place at the same site, while the current site in Fremont, California is expected to build the Model Y for North America and other international markets.

Building its cars in locally allows the car manufacturer to avoid steep tariffs applied to imported vehicles. Additionally, locally-produced electric vehicles are eligible for Chinese government subsidies.

To support the launch of the locally-produced Model 3 across China, Tesla’s V3 Superchargers will be introduced in the country by the end of this year.