China-made Tesla Model 3 gets NEV subsidies – report

American electrical car manufacturer Tesla has said it has secured subsidies for the China-built Model 3 under the country’s New Energy Vehicle (NEV) programme, Reuters reported. Two variations of this Model 3 are listed for the NEV subsidy programme, based on China’s Ministry of Industry and Information Technology. The Shanghai facility will probably likely be Tesla’s outside the United States.

Tesla aims to produce over 1,000 vehicles weekly out of its Shanghai production plant, with the goal of producing the China-made automobiles before the Chinese New Year at the end of January. Here, the factory’s power in its first phase is expected to reach 4,800 vehicles 250,000 vehicles per week, of which 150,000 are earmarked to be of the Model 3.

The American EV maker first arrived in a preliminary agreement with the Chinese authorities to construct its international coverage in Shanghai in July this past year, and Tesla agreed 12 months after to pay China 2.23 billion yuan (RM1.33 billion) in annual tax for the building of this Gigafactory on the outskirts of Shanghai.

Leasing terms as set out by the Shanghai government said that Tesla has to start generating the annual tax revenues at the conclusion of 2023 or risk losing the land, that Tesla bought for US$2 billion (RM8.26 billion) in 2018. Costs for your China-built Model 3 starts at 355,800 yuan (RM210,370), and Bloomberg reported that buyers can get up to 25,000 yuan (RM14,781) from subsidies from the government.

The Tesla Model 3 was recently rumoured to get an even higher-performance version , courtesy of a Track Mode Package hinted by a leaked page from a Tesla parts catalog featuring the Michelin Pilot Sport Cup 2 tyre. At present, this Model 3 comprises the Standard Plus with 400 kilometers of range, the Long Range AWD with 500 kilometers of range, along with the Performance, also with 500 kilometers of range.

GALLERY: Tesla Model 3