Tesla’s quarterly profit has come as a pleasant surprise to investors.
According to Tesla Inc’s website, the U.S. carmaker has started selling its Chinese-made Model 3 electric vehicle with an autopilot function, which has a starting price of $50,310 (355,800 yuan) in China.
It suspended website sales of a less expensive variant of the same model, lacking an autopilot function, it had previously offered at 328,000 yuan ($46,389).
Tesla did not respond to a request for comment.
Investors were in for a pleasant surprise when Tesla showed a quarterly profit which sent its shares zooming this week.
The company has started trial runs at its new $2 billion China factory ahead of schedule, said Tesla on Wednesday. It has set for itself an ambitious target of an annualized production rate of 500,000 vehicles by end-2019.
Although the company has obtained the certificate it needs to manufacture in the country, analysts contend that uncertainties around labor and suppliers is likely to pose challenges for its mass production strategy.
Tesla is also in the process of obtaining a key certification needed to sell China-made cars in the country, it told local media, though it is unclear when the government will grant it sales clearance.
Tesla’s U.S.-made Model 3 has fared well in China.
According to research firm LMC Automotive, its sales are likely to have surged by more than three times to 10,542 cars in the quarter ended September 30.
Categories: Creativity, Entrepreneurship, Regulations & Legal, Strategy, Sustainability
manageria.biz 
Leave a comment