Tesla (TSLA) Reportedly Starts Delivering Model Y Vehicles From Shanghai Facility

By Amit Chowdhry ● January 18, 2021
  • Tesla Inc (NASDAQ: TSLA) has reportedly begun the delivery of Model Y crossover vehicles built at its Shanghai facility across China. These are the details.

Tesla Inc (NASDAQ: TSLA) has reportedly begun the delivery of Model Y crossover vehicles built at its Shanghai facility across China, according to the Xinhua News Agency via CNBC. It is unknown how many Model Y vehicles were delivered or whether it was delivered to employees or retail customers.

This is a big deal for Tesla as China is the world’s largest electric vehicle market. And Tesla is aiming to increase its vehicle sales volume from around 500,000 last year to 20 million per year over the next decade.

Tesla had started the production of the Tesla Model 3 vehicle at the Gigafactory in Shanghai, China in late 2019. And Tesla had built the $2 billion plant in Shanghai within a year.

Disclosure: I have a small TSLA position in my stock portfolio