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Tesla Motors to enter China market in March

Tesla Motors during the Consumer Electronics Show in Las Vegas, January. (Photo/Xinhua)

Elon Musk, CEO of California-based electric car and component producer Tesla Motors, is set to travel to China in late March when the company opens its first store in the country. Musk said that China could become a larger market than the United States, reports our Chinese-language sister newspaper Want Daily.

The automaker will launch its flagship Model S in China in March for 734,000 yuan (US$121,280), which will be the first imported electric cars available in the country.

China’s market will be at least the largest market after the US, even though the automaker is not building locally, said the CEO. He predicted that Model S shipments to the country could match US sales by 2015.

He is confident that the brand will build a factory in China but has not decided whether it will be large-scale. Currently the automaker has to cover duty, shipping costs and taxes for importing the Model S to China, which could push up the car’s price tag to US$160,000.


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