(Yicai Global) July 18 -- Elon Musk, the entrepreneur behind US electric car firm Tesla, brought 10 of its latest Model 3 prototypes to Beijing showrooms on his visit last week.
Prospective buyers will be able to test drive the cars from Tesla stores in the Chinese capital, boosting consumer confidence in the Model 3, state-backed Securities Daily reported, citing an unidentified source.
The Model 3 is a luxury all-electric sedan that was released for pre-order in the US last July. It is expected to hit overseas markets next year.
Musk revealed earlier this month that Tesla will construct a Shanghai factory with the annual output of 500,000 vehicles. With the local plant, Tesla will lock in future profits in China, as well as cost cuts, according to insiders. China is the California-based firm's second-largest consumer market after its home turf.
In late June, Tesla cut as much as four months from the time US-based buyers need to wait for their orders. Those who purchase the Model 3 Performance or the rear-wheel-drive Long Range battery pack version will receive their vehicles within one to three months.
Tesla has struggled to scale up and reported a USD785 million net loss for the first quarter. The firm sold 103,000 units globally last year, of which the Model 3 was estimated to account for 2 percent.
Editor: Emmi Laine