Tesla CEO Elon Musk said the company will design a future car for the global market in China.
The founder of the electric car company said Tesla would open a design and engineering center in China, but he did not specify any timetable.
Tesla also confirmed that the company will begin developing production plans for its Model Y crossover at its Shanghai super plant, which is the only Tesla plant outside the United States to produce Model 3 models. The Model 3 is a sedan announced by Tesla before the Model Y in 2016, and it just started production at the Shanghai Super Factory last October.
Musk made the announcement when he delivered the first Model 3 cars to the public from a Shanghai super factory. "We intend to continue to invest heavily in China and increase investment in China so that Model 3 and Model Y and future models can be sold in China," he said.
"We will launch something super cool, so we are going to do this, try to build a Chinese design and engineering center, and really design an original car for global consumers in China. I think it will be very exciting . "He added.
China is regarded by analysts as a key market for Tesla, but the company faces a series of challenges in the Chinese market, such as cooling electric vehicle sales and increasing competition pressure. Nonetheless, the company has brought positive news that it will be profitable in the third quarter of 2019, and car shipments in the fourth quarter exceeded Wall Street analyst expectations. In the US stock market's trading on Tuesday, Tesla's share price once again hit a record high and set the latest market value record for US automakers.
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