On Friday, the 25th of October 2019, billionaire entrepreneur Elon Musk’s Tesla Inc., the Palo Alto, CA-based American automotive and energy company, rolled out its China-made Model 3 with an autopilot function which was priced at $50,310 (¥355,800), remarking the e-vehicle maker’s cheapest model for sale in China, official website of Tesla Inc.
updated the price on Friday (October 25th). Nonetheless, the e-vehicle maker, which had recently witnessed a surprise upward spiral in Q3 profit that in effect had torrented its share price more than 28 per cent to $328.13 as of Friday’s (October 25th) Wall St.
closure, remarking the first time Tesla Inc. shares had reached $300-mark since March 2nd, had also cancelled sales of a less-expensive variant of its Model 3 which lacked an autopilot version on Friday (October 25th). The model was previously offered at a price of $46,389 (¥328,000).
Aside from that, latest launch of Tesla Inc.’s Model 3 in China comes over the heels of a start-off of trial run of Elon Musk’s $2 billion Gigafactory in China that began production ahead of scheduled earlier this week, as the Palo Alto-based electric vehicle manufacturer had been hurrying on to reaching an ambitious target of annual production rate of 500,000 vehicles by the year-end.
Meanwhile, Tesla Inc.’s US-made Model 3 had been carrying out well so far in China, while sales of its US-made cars would likely to surge three-fold from its Q3 sales figure of 10,542 cars over the fourth quarter of the year in the world’s largest car market, China, forecasted the auto research firm LMC Automotive.