TSLA Tesla Inc

   By Martin Mou 
 

Tesla Inc. (TSLA) announced plans to produce a new car model in China on Tuesday, after the U.S. automaker delivered its first made-in-China vehicles to consumers.

Tesla will manufacture its compact sport-utility vehicle Model Y in China, the company said at the delivery ceremony of Model 3 cars in Shanghai, according to its official Chinese social media accounts.

Tesla unveiled the Model Y in March last year in a bid to appeal to a wider swath of electric-car buyers.

Analysts are expecting robust sales of Model 3 vehicles in China after Tesla lowered the starting price of the locally made model by 9% last week.

The selling price of the model starts at 299,050 yuan ($42,868) after accounting for government subsidies for new-energy vehicles, Tesla said.

Write to Martin Mou at martin.mou@wsj.com

(END) Dow Jones Newswires

January 07, 2020 05:35 ET (10:35 GMT)

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