According to a Bloomberg report, the Model 3 could be priced in the range of $43,431-$50,670.

According to a report from Bloomberg which cites sources familiar with the matter at hand, Tesla Inc is looking at pricing its China-manufactured Model 3 sedan in the range of $43,431-$50,670 (300,000-350,000 yuan) before subsidies.

The final price is being worked out.

Currently Tesla makes its Model 3 in the U.S. and then ships them to China for sale.

Tesla is counting on its Shanghai factory, which is scheduled to begin production this year, to manufacture Model 3 sedans as it seeks to expand its lineup and boost sales in China – the world’s biggest electric vehicle market.

According to Tesla’s social media post, it is expected to make an announcement on May 31.