Tesla begins deliveries of China-made Model 3 cars

USelectric vehicle makerTeslaInc on Monday began deliveringModel3 vehicles built at its Shanghai factory, marking the occasion with a ceremony during which 15 of its employees receivedcarsthey had purchased.

The event means the plant has started deliveringcarsto customers just 357 days after the factory's construction started, setting a new record for global automakers inChina.

TheChina-madecarsare priced at 355,800 yuan ($50,000) before subsidies andTeslahad said it wanted to startdeliveriesbefore the Lunar New Year beginning on January25.

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The Shanghai plant is part of the Silicon Valley automaker's plans to bolster its presence in the world's biggest auto market and minimise the impact of the US-Chinatrade war. Previously,Teslaimported all of thecarsit sold inChina.

"From now onwardsChina-madeModel3 vehicles will start running onChina's large streets and small lanes,"TeslaVice President Tao Lin said at the delivery ceremony, during whichModel3s in colours including black, white and blue were handed over to customers.