Tesla's Shanghai factory delivers its first cars to customers.
China is the biggest global market for electrics, but Tesla's manufacturing launch comes at a time when sales are sagging following the end of government subsidies in mid-2019.
Musk said Tesla plans to increase investment in China and set up a design center to “create a car for worldwide sale," but he gave no details.The company said production began in December and 15 Model 3s were delivered to Tesla employees in Shanghai on Dec. 30. Automakers that fail to meet their targets can buy credits from rivals that do. That might turn into a windfall for Tesla and other brands that earn a surplus because their whole output is electric. Beijing has yet to set the price of credits.
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