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Tesla's China-made Model 3 may be priced in $43,400-$50,700 range: Bloomberg

Guests look at a Tesla Model 3 during a ground-breaking ceremony for a Tesla factory in Shanghai on January 7, 2019.
STR | AFP | Getty Images

Tesla is considering pricing its China-manufactured Model 3 vehicles between 300,000 yuan and 350,000 yuan ($43,431-$50,670) before subsidies, Bloomberg reported on Tuesday, citing people familiar with the matter.

The final price is still being worked out, Bloomberg said citing a source.

The electric carmaker currently ships Model 3 vehicles from the United States to sell in China.

Tesla is counting on its Shanghai factory, which is scheduled to begin production this year, to manufacture Model 3 cars as it seeks to expand its lineup and boost sales in the world's biggest EV market.

Tesla was not immediately available for a comment on the pricing, but an announcement is expected on May 31, according to a social media post by the company.

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Key Points
  • An analyst for Ark Invest, which has a major investment in Tesla, says drastic price-target cuts by others on Wall Street are missing the big picture.
  • "In our valuation model we actually expect, we have Tesla raising an additional $10 billion to $20 billion in the next five years," says Ark's Tasha Keeney.
  • Ark's bear case on Tesla is $560 per share in five years and its bull case is $4,000 per share. The stock closed Thursday at $195 per share.