Tesla Inc. plans to price Model 3 cars manufactured in China between 300,000 and 350,000 yuan before subsidies, Bloomberg News reported May 28, citing people with knowledge of the matter.

The final price is still being finalized, the news wire said. On its official Weibo account, Tesla invited people to guess the price of the locally made Model 3 before it discloses the official amount.

The California-based electric-vehicle manufacturer, which is slated to begin local production at its Shanghai factory this year, is looking to make an announcement about its China-built Model 3 cars on May 31, Bloomberg reported.

Tesla already sells Model 3 units in China but these are all imported from the U.S.

The company did not immediately respond to a request for comment from S&P Global Market Intelligence.

As of May 27, US$1 was equivalent to 6.90 Chinese yuan.