US electric car maker Tesla Inc priced its China-made Model 3 vehicles from 328,000 yuan ($47,529) on Friday, according to a report from wallstreetcn.com.

Pre-orders for the vehicles also start on Friday, said an official announcement of Tesla on May 29.

Expected delivery time of the Model 3 is six to 10 months, according to Tesla. The report said the cruising range of the vehicle can reach 460 km under the NEDC condition.

The report also noted that the standard range plus Model 3 completes a 0-100km/h sprint in 5.6 seconds with maximum speed at 225 km/h.

Phase one of the Tesla gigafactory started construction in Shanghai on Jan 7, which expects to start mass production at the end of this year.

The factory is the first wholly foreign owned enterprise established after China lifted restrictions on foreign ownership of new energy vehicles, and also the largest-ever foreign-funded manufacturing project in Shanghai, the paper.cn reported.

In its first quarter report this year, Tesla revealed that it expects its second-generation Model 3 production line at its Shanghai plant to cost 50 percent less per unit than its factory in Fremont, California.

CEO Elon Musk also said in April that the gigafactory in Shanghai expects to produce 1,000 and 2,000 vehicles a week by the end of the year, the report said.