Tesla stocks are rising after the company introduced the first vehicles developed in China in its Shanghai gigafactory, which broke ground in January.
The blue Model 3 sedans feature the Tesla title in Chinese lettering. The vehicles start at about $50,000 each.
The Shanghai gigafactory, the first plant in China wholly owned by a foreign carmaker, is Tesla’s first full-scale manufacturing facility outside the U.S.
Tesla is still working on getting manufacturing certification which will let it expand production.
Producing vehicles from the world’s biggest automobile market will enable Tesla to avoid tariffs which China levies on foreign automakers.
