Tesla Inc. (TSLA) has manufactured Model Y vehicles in China. The Pre-orders of Shanghai manufactured small utility vehicles started at 339,000 yuan which is equivalent to $52,074 and for the sports version 369,900 yuan which is equivalent to $57,235.Tesla
These prices are way cheaper than previously quoted by Tesla. This low price can be a turning point for Tesla, as high Demand may curtail high revenues. Currently, both vehicles come in Black, a standard color in China whereas Pearl White is the standard color in other international markets. However, changing the color doesn’t come cheap, and it will cost an extra $1,238 if you desire white, blue, red, or dark gray.
The Model Y will be the second model that Tesla has sold and made in China. The company sold its first model “Model 3” in Dec 2019.
The Model Y comes with an Upgraded HEPA filter and for China customers, an exclusive Bioweapon-Defense Mode has been launched. This function which will help driver traverse extremely polluted areas while protecting their well-being. This is the key component to why Tesla Y Model has seen increased sales. In the EV market, Tesla is King.
Local rivals such as Nio, Liquto, and Xpeng all announced surging EV sales in 2020.
Tesla plans to invest $6.5million to set up a factory that will research and make super-chargers. Tesla plans to produce over 10000 superchargers annually.
Currently trading at $836.97, Tesla Inc. (TSLA) is 13.24% and 36.56% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 15.14 million and changing 1.31% at the moment leaves the stock 127.24% off its SMA200. TSLA registered a 704.46% gain for a year compared to a 6-month gain of 175.23%. The firm has a 50-day simple moving average (SMA 50) of $688.63 and a 200-day simple moving average (SMA200) of $463.76.