• 15 hours The Fastest Growing Energy Sectors Of 2019
  • 1 day How To Spy On Yourself: The Doorbell To End Civil Liberties
  • 3 days Analyst Predicts Tesla Stock Will Soar To $500
  • 4 days Australian Billionaire To Invest In $88 Million Struggling Solar Project
  • 4 days Twitter-Shaming: The Biggest Threat To Any Business
  • 5 days Canada Looks To Become A Major Source For Critical Minerals
  • 5 days Hedge Funds Are Piling Into This Key Commodity
  • 7 days Trade Deal Not Likely Before Christmas 2020
  • 7 days America's $16 Trillion Debt Bubble Is About To Burst
  • 7 days Black Friday Breaks Online Shopping Records
  • 8 days Tesla's Biggest Competitor Is Hiding In Plain Sight
  • 8 days Are Celebrities Good Or Bad For Cannabis Stocks?
  • 10 days Venezuela’s Crisis Continues As Maduro Spends $5 Billion On Oil Deals
  • 11 days Elon Musk Claims 250,000 Orders For Cybertruck
  • 12 days How To Survive Thanksgiving Politics With Cannabis Gravy
  • 13 days The Fragility Of Monetary Policy
  • 13 days 5 Oligopoly Stock Picks For Your 2020 Portfolio
  • 14 days $7 Trillion In Unfunded U.S. Pensions As Domestic Debt Hits A Record High
  • 14 days Retail Is Alive And Well, But Only For The Rich
  • 15 days New Tech Could Unchain The Solar Revolution
The Fastest Growing Energy Sectors Of 2019

The Fastest Growing Energy Sectors Of 2019

The world saw a significant…

Analyst Predicts Tesla Stock Will Soar To $500

Analyst Predicts Tesla Stock Will Soar To $500

Tesla’s share price could soar…

How To Spy On Yourself: The Doorbell To End Civil Liberties

How To Spy On Yourself: The Doorbell To End Civil Liberties

The billion-dollar ‘smart’ doorbell company…

Oilprice.com

Oilprice.com

Writer, OilPrice.com

Information/Articles and Prices on a wide range of commodities: We have assembled a team of experienced writers to provide you with information on Crude Oil,…

Contact Author

  1. Home
  2. News
  3. Breaking News

Tesla Breaks Ground On First Factory Outside The U.S.

Breaking Ground

Elon Musk joined the mayor of Shanghai on Monday for the groundbreaking ceremony of Tesla’s first factory outside the U.S. and in the world’s largest electric vehicle (EV) market, China.

Tesla aims to finish the initial construction of the Shanghai Gigafactory this summer, begin production of Model 3 by the end of this year, and reach high volume production next year, Musk wrote on Twitter on the day of the event.

The Shanghai Gigafactory production of Models 3 and Y will serve the Greater China region, Musk added, noting that “Shanghai Giga will produce affordable versions of 3/Y for greater China. All Model S/X & higher cost versions of Model 3/Y will still be built in US for WW market, incl China.”

In a sign that Tesla is preparing to start construction of its first factory in China, Musk said last week that he would be visiting China soon for the groundbreaking ceremony.

“Looking forward to visiting soon for the groundbreaking of Gigafactory Shanghai!” Musk wrote on Twitter last Monday, replying to a Chinese Tesla owner who had volunteered to deliver a Tesla vehicle to a new owner.

The EV maker signed the deal for the construction project with the Shanghai authorities in July. The factory is expected to double Tesla’s electric car production, beginning in two years. Related: The Biggest Threat To Industrial Metals In 2019

The peak annual turnout of the Shanghai factory will be half a million Teslas and the same amount of battery packs, to be achieved two to three years after the launch of production, Tesla said in July after the signing of the deal with Shanghai authorities.  

Tesla aims to have a production facility in the world’s top EV market China in order to be able to compete on a level playing field with a growing number of local EV manufacturers. As a U.S.-made vehicle, Tesla’s cars in China have been subject to steep tariffs, and sales have suffered from the U.S.-China trade war.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Safehaven.com

Back to homepage

Leave a comment

Leave a comment