China-built Tesla Model 3 cars recommended for subsidies

BEIJING: China’s industry ministry has placed Chinese-built Tesla Inc Model 3 cars on a list of vehicles recommended to receive subsidies for new energy vehicles, a move that will help the US firm’s push into the world’s biggest auto market. Two variants of Tesla Model 3 vehicles are listed on a recommendation list for China’s generous subsidies for new energy vehicles (NEV), according to a post on the website of China’s Ministry of Industry and Information Technology. The California-based electric vehicle maker, which is building cars in a $2 billion factory in Shanghai, aims to make more than 1,000 vehicles a week by the end of 2019 and deliver the China-made vehicles before the Chinese new year on January 25. The annual capacity at the plant in its first phase is expected to reach 250,000 vehicles, equivalent to about 4,800 a week. This will include 150,000 Model 3 cars. — Reuters