Tesla's Model Y Sells Out In China 

Tesla has been on a roll. It became the most valuable automotive company in 2020 and yesterday it even scaled the $700 billion valuations. Now its latest car, Tesla Model Y, has now been sold out in China within weeks of launching in the country. The Tesla Model Y is the first car that's been made fully in the Shanghai Gigafactory which has been one of the reasons for the production to scale up so quickly. Tesla spent 9 months preparing the facility for the launch of the Model Y.

The Model Y was announced in March 2020 and shares 70 per cent of its parts with the Model 3

The Model Y starts at 339,9000 yuan and the goes up to 369,900 yuan for the long-range dual motor model. The car is already sold out in China with the performance SKU now having a Q3 2021 delivery date in China.

Earlier, there were rumours that Tesla had planned 100,000 orders for the Model Y in China on the first day. Tesla could have as many as 10,000 deliveries for the Model Y in China in Q1 itself depending on how it has scaled the production of the vehicle. Electric estimates that it could be making 1,000-2,000 Model Y's in the Shanghai Gigafactory per week.

Considering the company received to the approval of the Chinese ministry of industry and technology in only November, the 10,000 unit mark for Q1 remains quite promising. But these numbers are likely to be beaten quickly as the electric car maker rebounds from the pandemic along with the world.