Tesla China has further reduced the price of Gigafactory 3’s MIC Model 3. The new price tag breaks a psychological barrier for Tesla’s China-made electric car. Along with the locally-made sedan’s purchase cost, Gigafactory 3 executives also reduced the price of its other products.
According to the Tesla.cn website, the made-in-China Model 3 is now priced at RMB299,050 (US$42,900). This includes the automaker’s basic Autopilot as standard. The new price point already accounts for Tesla China's purchase tax exemption and the new energy subsidy or incentives it received from the Chinese government.
Tesla China didn’t just reduce the price of the locally-made Model 3, though. The Shanghai headquarters also reduced the cost of the customization options consumers can make with their China-made Model 3.
The Solid Black color is now free for MIC Model 3. The other colors—Pearl White Multi-Coat, Midnight Silver Metallic, and Deep Blue Metallic—have been decreased from RMB9,500 (US$1,300) to RMB8,000 (US$1,100).
Most surprising of all was the price reduction for MIC Model 3’s Chinese red color—aka Red Multi-Coat. The red Model 3 used to cost RMB18,900 (US$2,700) and has been reduced to RMB8,000 (US$1,100) as well. Tesla China also decreased the price of the 19-inch Sports Wheels, which the company described as a customer favorite. The price will be lowered from RMB14,000 (US$2,000) to RMB6,000 (US$800).
As if the price reductions mentioned above weren’t enough, Tesla China went a bit further and decreased the price of its Home Charging Package as well. According to Tesla’s China website, the Home Charging Package will cost RMB8,000 (US$1,100) and include the price of the installation of a charging pole and up to 80-meters of cabling. This package can be purchased before or after the sale.
These price reductions make the EV playing field in China more even for Tesla’s Shanghai HQ—maybe even a competitive edge. The new price of the MIC Model 3 allows it to compete against other EVs made by China-owned companies at a more equal footing.
MIC Model 3 deliveries will start on January 7, exactly a year since Elon Musk broke ground on Gigafactory 3. It will be the culmination of one year of hard work by the Tesla China team and an excellent way to end the beginning of its journey. After Model 3 deliveries start, Gigafactory 3 will embark on a new adventure.
Featured Image Credit: Ray4Tesla/Twitter