Tesla prepared to deliver Model 3 to China buyers in March

The 2020 Kia Soul EV which is expected to be an affordable electric car

2020 Kia Soul EV

The post has since been deleted, but she threw up another one of a tweet claiming Elon Musk is racist. It marks a major bet by Tesla as it looks to bolster its presence in the world's biggest auto market where it faces rising competition from a swathe of domestic rivals and its sales have been hit by increased tariffs on US imports.

Shares of Tesla rebounded more than 2 percent in morning trading on Friday after it became clear that the electric vehicle giant plans to deliver Model 3s to buyers in China in March.

Tesla did not immediately respond to a Gizmodo request for comment.

"Looking forward to breaking ground on the @Tesla Shanghai Gigafactory today!"

The Securities and Exchange Commission, which ended up fining Musk and Tesla $20 million each over the August 7 tweet, as well as removing Musk as chairman and forcing the addition of two independent directors to the board, found in a probe that Musk's relationship with Grimes played a role in setting the price he said he would ask for Tesla.

In China, the billionaire-entrepreneur faces a vehicle market that probably shrank a year ago for the first time in at least two decades as uncertainties surrounding the trade fight between the world's two biggest economies, signs of weakening domestic demand and a stock-market slump take their toll on consumers.

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The billionaire-entrepreneur is facing a auto market that probably shrank previous year for the first time since at least the 1990s as uncertainties surrounding the trade war between the world's two biggest economies, signs of weakening domestic demand in China and a stock slump take a toll on consumers.

The facility is expected to churn out about 250,000 vehicles annually at first - the Model 3 and the planned Model Y - and that capacity will double over time.

A local plant will help Tesla lower prices in the market to compete with a new generation of local rivals including Nio, Byton and XPeng Motors.

Apple sparked global alarm over the prospects for the world's second-largest economy last week when it cut its revenue forecast citing slowing demand in China and the trade war. Tesla, which has said it plans to use mostly local debt to fund the factory, plans to start production this year.

"Aiming to finish initial construction this summer, start Model 3 production end of year & reach high volume production next year", he said, adding that "Shanghai Giga production of Model 3/Y will serve greater China region".

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