Tesla sends Shanghai-made electric vehicles to Canada for sale
Justin Sullivan
Tesla (NASDAQ:TSLA) appears to have completed the first shipments of electric vehicles made in Shanghai to North America.
A listing on the company's website spotted by Reuters showed China-made Model 3 and Model Y models for sale in Canada with codes showing they were manufactured at the Gigafactory Shanghai. It is unclear just how many of the Shanghai-made vehicles are available in Canada. Earlier in the month, marine tracking first revealed that a ship from China loaded with Tesla vehicles was crossing the Pacific Ocean.
Both of the Shanghai-built Tesla (TSLA) models listed for sale in Canada qualify for federal incentives of C$5,000 in the nation. On the other hand, the vehicles may not qualify for tax credits in the U.S. due to the location of the plant.
While Tesla (TSLA) has not formally confirmed that the Shanghai-made EVs are for sale in Canada, the move could be strategic. By selling Shanghai-made EVs in Canada, Tesla (TSLA) could have more supply in the U.S. to meet demand where the vehicles qualify for the full $7,500 tax incentive. There are also some indications that EV buyers in the U.S. are confused by exactly which electric vehicle models qualify for the tax credit, which is a situation that many analysts see playing in Tesla's (TSLA) favor.
Shares of Tesla (TSLA) dipped 0.45% in premarket action on Tuesday to $187.90 vs. the 52-week trading range of $101.81 to $314.67.
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