Tesla (NASDAQ:TSLA) announced on Thursday that it has reduced delivery wait times for its Model 3 and Model Y vehicles in China as a result of manufacturing line upgrades at its Shanghai facility.
Model Y Suv
The waiting period for the Model Y SUV with rear-wheel drive is now four to eight weeks, while the waiting period for other SUV variants and Model 3 sedans is 12 to 20 weeks. Tesla previously stated that a buyer in China would have to wait eight to twenty-four weeks for the best-selling model 3 and Model Y after placing an order.
Tesla (NASDAQ:TSLA) verified the shorter waiting period, which was initially reported on the company’s Chinese website, citing the Shanghai plant’s production ramp-up as one of the reasons.
The automaker typically sends a higher proportion of its Shanghai-manufactured vehicles to Chinese customers in the second half of each quarter, which results in an acceleration in deliveries, the firm said.
Tesla (NASDAQ:TSLA) has completed a significant update of the production lines at its Shanghai facility, its most prolific manufacturing hub, and is ramping up production with a goal of producing 22,000 Model 3 and Model Y vehicles per week combined.
Elon Musk, the chief executive officer of the company, has stated that manufacturing is a greater difficulty than demand. Tesla’s second-quarter profit margin was negatively impacted by production losses during a two-month COVID-19 lockout in Shanghai as well as production difficulties in Berlin and Texas.
The company has ceased accepting orders for its Cybertruck outside of North America, as well as for its Model 3 Long Range cars in the United States and Canada, citing significant delivery backlogs.
About Tesla
Tesla, Inc. (NASDAQ:TSLA) is an American multinational automotive and renewable energy corporation with headquarters in Austin, Texas. Tesla (NASDAQ:TSLA) designs and manufactures electric vehicles (electric cars and trucks), battery energy storage from residential to grid-scale, solar panels and solar roof tiles, and products and services linked thereto. With a market value of more than US$760 billion, Tesla is one of the world’s most valuable corporations and the world’s most valuable automaker.
In 2021, the firm sold the most battery electric vehicles and plug-in electric vehicles worldwide, taking 21% of the battery-electric (purely electric) market and 14% of the plug-in market (which includes plug-in hybrids). The company’s affiliate Tesla Energy is a leading developer and installer of photovoltaic systems in the United States. In 2021, Tesla Energy will have deployed 3,99 gigawatt-hours (GWh) of battery energy storage systems, making it one of the major global suppliers of such systems.
Featured Image: Megapixl @Oleg07871
