We begin with a look at the Chinese auto sector. The first deliveries of made in China Tesla Model 3 sedans began today, one year after the American automaker began construction on its massive Shanghai factory, the first located outside of the United States. The delivery is a milestone for the company as it tries to carve out a piece of the world's biggest auto market.  CGTN reporter Yang Chengxi has the story.

Dancing on stage. It's not hard to see why Tesla founder Elon Musk is in a good mood this week. The flamboyant American entrepreneur has delivered the first batch of Made-In-China Model 3 electric vehicles to Chinese customers. It's a dream that has come to fruition just a year since Tesla's two billion US dollar gigafactory was launched in Shanghai, breaking the record for global automakers in China. He calls it the Shanghai Speed.

You can own a Model 3 for about 46.4 thousand US dollars. That comes following a 9 percent price drop last Friday. Tesla's 2019 sales were bigger than the previous two years combined, which was mainly thanks to the popularity of the Model 3 sedan. Musk also announced plans to manufacture Tesla's latest Model Y cars in China.

ELON MUSK Founder, Tesla "Actually, more people prefer an SUV than a sedan, it will have more demand for all Tesla cars combined."

YANG CHENGXI Shanghai "The Model 3 is expected to be completely domestically produced by the end of 2020. Currently, only 30 percent of the components are produced locally. Analysts expect production costs to further go down as Tesla builds a more complete supply chain in China."

That could mean lower prices in the future. The gigafactory builds more than 3 thousand cars a week and plans to double production next year. The new energy vehicle market in China, the biggest in the world, is expected to become that much more competitive. CGTN.