At the same time, Tesla announced that it would reduce the price of the model 3 basic car made in China from 355800 yuan to 323800 yuan (including the basic auxiliary driving function). At the same time, according to the national policy, the whole system of Model3 can enjoy the purchase tax exemption policy, as well as the new energy subsidy amount of 24750 yuan. The price of model 3 made in China after subsidy is 299000 yuan.
Musk is particularly fond of January 7. On January 7 last year, in the continuous winter rain in Shanghai, musk personally visited the Shanghai Port super factory and witnessed the foundation of Tesla, the first overseas factory.
One year later, Teslas port super plant has been put into operation. According to the plan, the production capacity of the plant will reach the target of 500000 vehicles per year in four to five years after putting into operation.
Tesla confirmed to the first financial reporter that at present, the port factory has reached the production capacity of 1000 model 3 per week, and is expected to achieve the production target of 3000 model 3 per week in the near future. Teslas Fremont plant in the U.S. achieved its goal of producing 5000 vehicles a week as early as the middle of last year, with a 95% automation rate. Shanghais port factories may not have such a high automation rate.
At the end of August last year, when he visited Shanghai, musk marveled at the speed of the construction of Teslas Shanghai Super plant. The whole process of Tesla plant from start to completion takes only 10 months, which is hard to be surpassed by other parts of the world.
Teslas Shanghai plant has also received strong government support. According to documents submitted by Tesla to U.S. regulators, Tesla has targeted nearly $1.3 billion in loans from Chinese banks to support the construction of its Shanghai Port factory.
In addition, Tesla has an advantage in car purchase subsidies. On December 6, the Ministry of industry and information technology released this years 11th batch of new energy vehicle promotion and application recommended model catalogue, including the model 3 model produced in Tesla Shanghai Super factory. This means that the car owners who buy the model 3 before the subsidy policy is issued in 2020 will get the corresponding subsidy stipulated in the existing policy - based on the price of model 3 of 355800 yuan, each domestic Tesla will get 24700 yuan subsidy.
On December 27, the Ministry of industry and information technology released the latest batch of catalogue of new energy vehicle models exempt from vehicle purchase tax, including domestic Tesla Model 3. That is to say, on the basis of electric vehicle subsidies, consumers can also be exempt from purchase tax.
The Chinese market in 2020 is critical for Tesla. Tesla has said it will double the number of service centers and fast charging stations this year.
Teslas share price has hit new highs since last year. In the past year, Teslas share price has risen nearly 40%. Investment bank canaccord genuity recently raised Teslas target share price to $515.