Tesla electric cars in China

Tesla has raised prices for electric cars assembled in China for the second time in the last five days. This was evidenced by an update on Tuesday from the company's website in the country.

A Model 3 sedan and Model Y crossover are currently being assembled at Tesla's plant in China. The price of a complete Model 3 in Chinese showrooms has gone up by 18 thousand yuan (about $2.8 thousand) and is now 367.9 thousand yuan (about $58.3 thousand).

However, even more by 20 thousand yuan (about $3.1 thousand) the Model Y crossover has gone up in price, which in a full package now sells for 417.9 thousand yuan (about $66.3 thousand). Prior to this wave of price increases for Tesla electric cars assembled in China, prices went up on December 31 last year.

Shanghai is home to the only Tesla electric car assembly plant outside the United States. An agreement to build the plant was signed in July 2018.

The first phase of the facility, located in the Lingan district of the Shanghai Pilot Free Trade Zone, was built in just one year by the end of 2019. The total investment in this project will be around 50 billion yuan (about $7.8 billion). Since October 2020, the Chinese-built Model 3 has been exported to European countries, notably Denmark, Switzerland, Sweden, Spain, the Netherlands and Norway.

According to the latest official figures, 480,000 Tesla electric cars were assembled at the plant in China in 2021; in 2020, this figure was at the level of 250,000 units. At the same time, last year 160 thousand electric cars produced in Shanghai by this American company were exported to more than 10 countries in Europe and Asia.

Tesla's revenue from sales of electric vehicles assembled in China in 2021 was $13.8 billion, up 108 percent from 2020.