Sources Claim Tesla Plans to Export Chinese-Made Model 3 to Asia and Europe

According to sources, electric car maker Tesla plans to export Model 3 sedans made at its Shanghai plant to Asia and Europe. Bloomberg reports that the first international Model 3 made in China is expected to go into production in the fourth quarter. Tesla aims to produce 150,000 models made in Shanghai this year. However, according to a document submitted by Tesla in March, the company plans to increase Giga Factory 3's annual output from 250,000 to 260,000. Tesla sold about 11,800 cars in China last month, so its production capacity currently exceeds demand. Tesla also faces new competition from emerging Chinese electric vehicle startups including Xpeng Motors and NIO Inc. In China, we sell about 3,500 electric vehicles per month, but sales are increasing.