Tesla begins Model 3 delivery in China

Tesla announced Friday that it has started delivering Model 3 cars in China, which means all of Tesla's three lineups -- Model X, Model S and Model 3 -- have hit the Chinese market.

Compared with Model X and Model S that have already been available in China, Model 3 offers a more compact and low-priced choice, with a starting price at 433,000 yuan (about $64,300).

Tesla Shanghai Gigafactory, the largest foreign-invested manufacturing project in Shanghai's history, broke ground last month. The preliminary construction is expected to be completed in summer this year.

Tesla CEO Elon Musk said at the groundbreaking ceremony that the production of certain Model 3 cars at the Shanghai factory will begin by the year-end.