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Tesla (TSLA) has obtained tax exemptions for “new energy vehicles” in China for its new Model Y manufactured at Gigafactory Shanghai.
This is one of the last steps before the electric SUV can be delivered to customers nationwide.
As we have already reported, Tesla has adopted a new vehicle introduction strategy for the Model Y. Unlike previous vehicle programs, which were launched in different markets with vehicles imported from the Tesla factory in Fremont in California, Tesla does not introduce the Model Y to new markets until the vehicle is produced there.
In the past 10 months, Tesla has expanded Gigafactory Shanghai to prepare for production of the electric SUV.
The plant has more than doubled in size.
Tesla released new photos of the upcoming Model Y Shanghai factory last month.
Earlier this month, China’s Ministry of Industry and Information Technology registered the Model Y.
Now the ministry has included the Tesla Model Y in its 12th batch of recommended “new energy vehicles” – making the electric SUV eligible for electric vehicle incentives, including tax exemptions, in the country.
This is one of the last steps for Tesla to start producing and selling the Model Y in China.
A camouflaged Model Y prototype was even spotted being tested at Gigafactory Shanghai last week as the automaker prepares to start production:
Tesla guided the start of production and deliveries of the Model Y in China in “early 2021”.
Production is expected to start any day and increase volumes in the coming months for deliveries in the first quarter of 2021.
The hype around the Model Y in China is high and the vehicle is expected to have a big impact on the small SUV / crossover segment, which is extremely popular in China.
Startups like Nio and Xpeng quickly tackled the problem with their own first electric vehicles.
Last month, a Chinese auto market analyst estimated that Tesla could sell up to 30,000 Model Y vehicles per month once the cheaper version of the electric SUV becomes available.
That’s about three times higher than sales of Tesla’s Model 3, which already dominates the electric vehicle market in the country.
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