Tesla Announces Model Y Presale Price, Shanghai Gigafactory Almost Complete

Tesla’s Shanghai Giga-factory (Source: Sina Weibo)

On Aug. 24, Tesla China’s official website quietly launched another localized Model Y with the pre-sale price ranging from 488,000 yuan to 535,000 yuan.

The domestically produced Model Y comes in two versions, the long-battery-life version priced at 488,000 yuan and the high-performance version at 535,000 yuan. According to public information, the Model Y is approximately half the price of Tesla’s original SUV Model X, which sells for about 800,000 yuan.

SEE ALSO:Tesla Plans to Start Hiring in Shanghai for Ramp-up Production of Model Y

According to market speculation, the price of the domestic Model Y still has room to drop in the future, and the pre-sale price on the official website is also indicated as an estimate only.

The Model Y plant of the Shanghai Tesla Gigafactory started construction this year. Pandaily reported earlier that the company plans to ramp up production of the first batch of the Shanghai-made Model Y with the first delivery in 2021 in its Shanghai plant.

Tesla’s Shanghai plant is the company’s first manufacturing plant in China and the third Gigafactory built by the company around the world, according to Tesla’s website.

On Aug. 23, blogger Eva Fox posted an article about the almost completed Tesla Shanghai Gigafactory, adding that the exterior of Giga Shanghai is almost complete and equipment installation is “underway.”

The author wrote, citing a new drone video posted by Jason Yang, that “the main buildings of Giga Shanghai are almost complete,” adding that Tesla Giga Shanghai’s Model Y production building, Phase 2A, appears to be fully completed.

(Jason Yang posted a drone video introducing the current progress of work of Tesla Giga Shanghai. Source: Jason Yang)

According to data from CPCA, the July sales of Tesla’s Model 3 totaled 11,041 vehicles. The company only sold 3,535 units in April this year, but sales soared 205% year-on-year to 11,095 units in May, and sales in June reached 14,954 units.