Justin Sullivan
Tesla (Nasdaq: TSLA) seems to have completed the first shipments of electric cars made in Shanghai to North America.
List on the company’s website observer Reuters showed Chinese-made Model 3 and Model Y models for sale in Canada The symbols show that they are manufactured in Gigafactory Shanghai. It is unclear how many Shanghai-made cars are available in Canada. Earlier in the month, marine tracking revealed for the first time that a Chinese ship loaded with Tesla vehicles was crossing the Pacific Ocean.
Both Tesla (TSLA) models built in Shanghai and sold in Canada are eligible for C$5,000 federal incentives in the country. On the other hand, vehicles may not qualify for tax credits in the United States due to the location of the plant.
While Tesla (TSLA) has not officially confirmed that electric cars made in Shanghai are on sale in Canada, the move could be strategic. By selling electric cars made in Shanghai in Canada, Tesla (TSLA) could have more supply in the US to meet demand as the vehicles qualify for the $7,500 tax incentive. There’s also some evidence that U.S. EV buyers are being confused by which EV models qualify for the tax credit, a situation many analysts see playing into Tesla’s (TSLA) favor.
Tesla (TSLA) shares fell 0.45% On Tuesday’s pre-market move to $187.90 against the 52-week trading range of $101.81 to $314.67.