Musk to return to Shanghai plant, will announce china-made Model Y

On January 6, a reporter for the Beijing News learned from Tesla insiders that tesla founder Elon Musk will attend the first delivery ceremony for the Tesla Chinese-made Model 3 to social users this afternoon .D.C. In addition, Tesla will also launch the Model Y project, and officially announced the launch of the domestic Model Y booking.

Musk to return to Shanghai plant, will announce Model Y domestic

On January 7 last year, the Shanghai gigafactory officially broke ground, the same day Musk came to China to witness, and announced in advance that the Shanghai Super Factory will produce the Model 3 standard battery life upgrade and the new model Y model. On December 30 last year, Tesla delivered its first Chinese-made Model 3 to 15 internal employees, marking the official completion and mass production of the Shanghai Super plant.

At present, China’s manufactured Model 3 domestic ation rate of only 30%, Anxin Securities forecast that the U.S. factory standard version of model 3 bicycle costs in about 230,000 yuan, with the increase in the rate of localization, it is expected that the cost of Chinese-made Model 3 can be reduced by 10%-15%.

The Model Y, Tesla’s fifth model, was officially released in mid-March last year and starts at $39,000. Since Model Y will be based on model 3 platform research and development, this will significantly reduce Tesla’s research and development spending.

In its third-quarter results, Tesla revealed that model Y’s production line was installing faster than expected, and that its Fremont, California-based plant had moved trial production to this summer, a quarter earlier than originally planned. Musk also expects Model Y to mass production by the middle of this year, with production of about 1,000 vehicles a week.