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The domestic Model 3 was officially delivered to Chinese consumers today. At the Tesla Shanghai super factory, CEO Elon Musk showed up and launched the delivery ceremony, and 10 Chinese car owners got the keys of the domestic Model 3.

Exactly one year has passed since the construction of Tesla's Shanghai factory began in January 2019. Musk said at the scene that as the largest foreign-invested project and the first wholly foreign-owned automobile factory, Tesla's Shanghai factory has high hopes. Without the support of the Shanghai municipal government, it is impossible to create such a miracle. It is a good business environment that enables Tesla's Shanghai factory to be successfully built and delivered quickly.

According to Tesla's website, the price of the standard battery life upgrade version of Model 3 (including basic driving assistance) made by the Shanghai Super Factory in China has been reduced from 355800 yuan to 323800 yuan, a reduction of about 9 per cent. At the same time, domestic Model 3 enjoys a national subsidy of 24750 yuan for new energy vehicles, so the actual purchase threshold for Model 3 produced by a super factory in Shanghai, China has been lowered to 299050 yuan.

Song Gang, manufacturing director of Tesla Shanghai factory, revealed that by the end of this year, domestic Tesla Model 3 will realize the domestic replacement of all parts and components. At present, the localization rate of parts at Tesla's Shanghai factory is about 30 per cent, which is planned to rise to 70 per cent, 80 per cent by July and 100 per cent domestic by the end of the year.

It means that there is room for further price reduction in domestic Model 3. At present, Tesla Shanghai Phase I factory achieves an output of more than 1000 units per week, which is expected to reach 3000 units per week soon, with a design capacity of 250000 vehicles per year.

The domestic Model 3 has achieved lightning delivery, and the price has been reduced to less than 300000 yuan, making the new power companies of electric vehicles in China, which has been caught in the market trough, facing greater competitive pressure.

At the event site, Tesla Shanghai factory's second production car-Model Y officially launched the production plan, the car is based on Model 3 and the compact SUV. Musk said that Model Y is an affordable electric suv created by Tesla, just like Model 3 is a car for Volkswagen, both areas are Tesla's favorite auto consumer market.

At present, Tesla's official website shows that there are three versions of the Model Y. the long-lasting version of the rear drive costs 444000 yuan, with a range of 540km and an acceleration time of 5.8s for 100km. Then there are the long-lasting version of dual-motor all-wheel drive and the high-performance version of Performance, which are priced at 488000 yuan and 535000 yuan respectively. Tesla expected to start production as soon as 2021 and did not give a specific delivery time.

Not long ago, Tesla received a loan from a Chinese bank, thus adding to his Chinese business. Tesla has agreed with a number of Chinese banks for five-year loans of up to 10 billion yuan, including China Construction Bank, Agricultural Bank of China, Industrial and Commercial Bank of China and Shanghai Pudong Development Bank. Tesla plans to use some of the money to repay the previous 3.5 billion yuan loan, while the rest will be used for Shanghai factories and China operations.

Tesla to home-made low-price competition to hit the market again, for the new power of Chinese car-building, may have a not-so-smooth 2020.

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