Shanghai (ZXZC)- Tesla Inc. formally kicked off the large-scale delivery of its China-made Model 3 sedans on January 7 at its Shanghai plant. Besides, the project of the Model Y was launched there at the same time, while the timeline still remained unknown.

Tesla's CEO Elon Musk was presented at the event to hand the keys to car owners of the homegrown Model 3s and announce the start of Model's Y local production in Shanghai.

On December 30, 2019, Tesla handed over 15 Model 3s to employees, signaling the beginning of the significant model's delivery in China.

The Tesla Model Y, an all-electric mid-sized SUV, was unveiled to the world in last March. The price of Tesla's new SUV Model Y in China has been announced with its three versions priced from an estimated RMB444,000 to RMB535,000.

The dual-motor all-wheel-drive Performance high-performance version is priced at RMB 535,000, with a range of 480 kilometers (estimated by WLTP), a top speed of 241 km/h and an acceleration of 0-100 km/h in 3.7 seconds.

The Model Y is built on the same platform as the Model 3, sharing 75% of parts, and its body size will be 10% larger than the Model 3. It is supposed to be mass produced in Fremont for the U.S. market over the next few months.

In the fourth quarter of 2019, Tesla produced 105,000 vehicles and delivered roughly 112,000 new vehicles. Last month, the EV manufacturer handed over around 367,500 vehicles, a year-on-year surge of 50% (photo source: Tesla).