This Nov 22, 2019 photo shows a made-in-China Tesla Model 3 at a Tesla experience center in east China's Shanghai.  (DING TING / XINHUA)

SHANGHAI – The production rate of Tesla's Model 3 sedans in its Shanghai gigafactory will top 4,000 units per week by mid-2020, the US electric carmaker said on Thursday. 

The Shanghai gigafactory was producing 280 vehicles every day at the end of last year. 

READ MORE: Shanghai helps fuel Tesla's electric car dreams 

Tesla's product line in Shanghai only contained the Standard Range Plus version of Model 3 in the first quarter. The company has launched an online configurator for a Long Range version and a Performance version since April. 

The carmaker said it will continue to ramp up production of Model 3 in Shanghai in the second quarter, with more efficient assembly lines of the Shanghai-built Model Y SUVs, which will start deliveries in 2021. 

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Tesla reduced the price of the Standard Range Plus version of Model 3 made in China to from 303,550 yuan to 271,550 yuan on Friday to meet the government's new eligibility requirements for subsidies.