Tesla to export China-made Model 3 vehicles to Europe

A Tesla Model 3 in Hong Kong. (Shutterstock)
Short Url
Updated 20 October 2020

Tesla to export China-made Model 3 vehicles to Europe

  • Tesla started delivering vehicles made in its Shanghai factory in December

BEIJING: US electric vehicle maker Tesla Inc. said on Monday it would start exporting China-made Model 3 cars to more than 10 European countries this month.

Tesla, which started delivering vehicles made in its Shanghai factory in December, will export China-made cars in October to countries including Germany, France, Italy and Switzerland, the company said in a statement.

Tesla has been expanding in China even as tensions between Washington and Beijing have been escalating. The Shanghai factory, Tesla’s first car plant outside of the United States, aims to build 150,000 vehicles this year.

“Support from Chinese government toward the industry, innovative local companies and customers embracing new technologies make China the best market for smart electric vehicles,” Tesla said, adding it will expand car production, charging and sales network in China.

The electric vehicle maker, which sold more than 11,000 Model 3 cars last month in China, the world’s biggest auto market, is also building new car manufacturing capacity in Shanghai to make its Model Y sport-utility vehicles.

Reports said in September that Tesla was planning to export Model 3 vehicles made in China to Asian and European markets, citing people familiar with the matter.


Bitcoin hits $19,000 for first time in 3 years

Updated 24 November 2020

Bitcoin hits $19,000 for first time in 3 years

  • The world’s most popular cryptocurrency has gained around 160 percent this year

LONDON: Bitcoin hit $19,000 on Tuesday for the first time in nearly three years and was just shy touching an all-time high of just under $20,000.
The world’s most popular cryptocurrency has gained around 160 percent this year, fueled by a demand for risk-on assets amid unprecedented fiscal and monetary stimulus, hunger for assets perceived as resistant to inflation, and expectations that cryptocurrencies would win mainstream acceptance.
Bitcoin has gained over 37 percent in November alone.