Tesla Motors Inc.: ‘The price of the Bolt is $50K’

By Emily Lassan and Emily StephensonTesla Motors Inc., the most valuable U.S. automaker, said Wednesday it would start producing the electric vehicle in 2019, after years of planning to shift production to Mexico.

The Bolt, which goes on sale in the U.K. next year, will go on sale globally in 2021.

Tesla said it expects to ramp production to the U, Mexico and China over the next two years, but it didn’t give a specific timeline for when the car would go into production in those countries.

Tesla said it has more than 500,000 pre-orders for the Bolt, and it expects the car to hit market by 2019.

Tesla plans to build a factory in Mexico City that will produce the car.

Tesla also said it will build another factory in the state of Texas to produce the Model X SUV.