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Musk Urges Chinese Consumers to Buy Model 3 Now to Fund Factory

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Tesla Inc. Chief Executive Officer Elon Musk called on Chinese consumers to order their Model 3 now in an interview with a Shanghai media outlet, warning that a new local plant isn’t going to make top-end versions of the sedan any cheaper.

“The high-end versions of the Model 3 -- the price will still remain the same next year,” Musk said Monday in an interview with Kanka News, an online news portal for government-run Shanghai Media Group. “I don’t want people to hold off on purchasing, or waiting for or expecting a price drop. We need to sell cars today in order to build the factory tomorrow.”