It's official. On Monday, Tesla (NASDAQ: TSLA) announced that it has started selling domestically-made Model Y's in China. The company released a comment on Twitter saying simply "Model Y deliveries in China have officially begun." Tesla broke ground on its Shanghai manufacturing plant two years ago, and the company delivered the first Model 3 sedans from the factory a little over one year ago. As the company expands its offerings from the facility, competing Chinese electric-vehicle (EV) makers have also been enlarging product portfolios. NIO (NYSE: NIO) just unveiled its first luxury sedan at its "NIO Day" event earlier this month. Tesla Model Y mid-size SUV. Image source: Tesla. NIO's ET7 will directly compete with Tesla's Model S luxury sedan when it becomes available early next year, while Tesla's Model Y will compete with NIO's SUV products. But the Model S isn't made at the Chinese factory. The plant will ultimately have a production capacity of 500,000 vehicles annually. Tesla sold 138,000 Model 3 sedans in China in 2020, representing a little over 12% of all EV's sold in the country, according to The Wall Street Journal. Automakers expect that to grow quickly, as the Chinese government wants to almost quintuple EV sales by 2025. Tesla offers three models of its Model Y in the U.S. However, the standard range basic model will not be offered from the Shanghai plant. The Chinese-made long range model will sell for $52,425 and performance models will be priced at $57,050, according to reports. 10 stocks we like better than TeslaWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Tesla wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Howard Smith has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Tesla and Twitter. The Motley Fool has a disclosure policy.Source