Sat, 25-Jun-2022
Friday 06 Dec 2019 , 9:38 am

China’s Ministry of Industry and IT Recommends China-built Tesla Cars for Subsidies

Two variants of Tesla Model 3 vehicles are listed on a recommendation list for China’s generous subsidies for new energy vehicles (NEV), according to a post on the website of China’s Ministry of Industry and Information Technology.
By SIN Bureau
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China’s industry ministry has placed Chinese-built Tesla Inc. Model 3 cars on a list of vehicles recommended to receive subsidies for new energy vehicles, a move that will help the U.S. firm’s push into the world’s biggest auto market.

Tesla Model 3 (Source: Tesla Website)

Two variants of Tesla Model 3 vehicles are listed on a recommendation list for China’s generous subsidies for new energy vehicles (NEV), according to a post on the website of China’s Ministry of Industry and Information Technology.

The California-based electric vehicle maker, which is building cars in a $2 billion factory in Shanghai, aims to make more than 1,000 vehicles a week by the end of 2019 and deliver the China-made vehicles before the Chinese new year on Jan. 25.

The annual capacity at the plant in its first phase is expected to reach 250,000 vehicles, equivalent to about 4,800 a week. This will include 150,000 Model 3 cars.

It was not immediately clear how much of a subsidy the vehicles would receive. A Tesla representative confirmed the company’s vehicles had been recommended for subsidies.

China hopes sales of NEVs, which include plug-in hybrids, battery-only electric vehicles and those powered by hydrogen fuel cells, which constituted around 4.6% of overall market in 2018, can reach a quarter of car sales in 2025.

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Neha Mule

Neha writes articles on sectors including medicine, food, materials, and science & technology. A qualified statistician, she has the ability to observe and analyze the trends in global markets and write compelling articles that help CXOs in decision making. She is a bookworm and loves to read fiction, lifestyle, science and technology. Neha comes with 6 years of experience in content writing and editing that involves blog writing, preparation of study materials and OERs.

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