There are rumours floating on the internet claiming that Tesla is planning to launch a new compact electric car for the Chinese market. It is expected that the car will be launched at very aggressive pricing to meet the demands in the Chinese market. There were some reports which claimed that Tesla might add a new compact electric car sometime in the future but now it seems that Tesla will very likely launch the compact electric car really soon for the Chinese market.
Recently, an assessment of the Gigafactory in Shanghai revealed the teaser for the third Tesla model which is expected to hit the China automotive sector. The report also suggests that this compact electric car will have the chassis of the Model 3 and is expected to be priced at around USD 25,000.
Tesla has its manufacturing facility in Lingang, Shanghai which was established in the year 2018. Currently, the facility has an annual capacity to produce 3,000 cars per week though there are plans to revamp the capacity to reach 2,50,000 units in a single year. As of now, Tesla assembles Model 3 and reports suggest that the Tesla Model Y is also expected to be assembled in the same facility. The demand for electric vehicles is rising on a regular basis and the story is no different in China.
With a lot of other electric car options, Tesla is one of them and to win over a large market share, Tesla is planning to add a new compact low-cost electric car in China. In fact, this car could also be a hit in the European and US market where there is a healthy population size who want to buy a Tesla but currently, they can not as the models from Tesla on sale now are priced at a premium.
Tesla is expected to enter the Indian market in early 2021 as confirmed by the Union Minister for Road Transport and Highways and the Minister of Micro, Small and Medium Enterprises, Nitin Gadkari. As per reports the first model to come is the Model 3 which is currently the most affordable Tesla. He iterated the fact that India has the potential of becoming a leading electric vehicle manufacturing hub in the coming 5 years.