Electric automaker Tesla will begin delivering its Model 3 vehicles in China at the start of next week, the company said Friday.

The Model 3, built at Tesla's new plant in Shanghai, will begin deliveries on Monday. The model will be Tesla's first entry in China to compete against Chinese carmakers like NIO and Xpeng and European companies like BMW and Daimler. Tesla said 15 Model 3 cars are in the initial delivery.

Tesla's founder Elon Mush has promised the multi-billion-dollar Shanghai plant will initially produce 1,000 vehicles per week, but that figure will ultimately grow to 3,000.

Tesla said last fall the Model 3 will sell for $50,000, without a Chinese government rebate of $3,600. The company said then it was already producing vehicles in Shanghai as part of a trial production. Weeks later, Tesla received its manufacturing license and sales approval for its China-made vehicles.

Friday's announcement follows an exemption given Tesla from a 10 percent tax for its Shanghai-made cars. Beijing's Ministry of Industry and Information Technology included the Model 3 on its list of exempted products.

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