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Tesla has received permission from China’s Ministry of Industry and Information Technology to sell the Model Y in the country. If the automaker receives a production permit, Giga Shanghai will soon start a significant ramp.
Tesla reportedly plans to produce more than 500,000 vehicles at Giga Shanghai alone in 2021. The factory will produce cars for the Chinese market and exports to Europe.
The China-built Model 3 is currently available in the country, while the Model Y is expected to hit roads in early 2021.
China’s EV market is set to explode in coming years as the country makes an aggressive shift away from fossil-fuel-powered vehicles. A number of startups are building attractive and capable vehicles. And auto giants like Volkswagen, Toyota, and Hyundai are set to bring more EV choices to market soon.
Tesla has a strong brand in China, but it comes with a high price tag compared to other EVs. However, Tesla says it’s planning to add smaller car designed specifically for the Chinese market. In the meantime, Tesla is poised to continue taking more share of the market as Giga Shanghai ramps production of Model 3 and Model Y.