Tesla Inc. (NASDAQ:TSLA) plans to start production of its Model Y sport utility vehicle in November 2019, Reuters reported, citing people familiar with the matter.
The automaker, which hasn’t provided a time frame for production for the model, is taking preliminary bids for supplier contracts and is looking at building the vehicle at its Fremont, California plant, the report said. Production in China will start two year later, it added.
The shares of the company dropped about 1% to US$302.40 at 3:25 p.m.