• 2 hours Chinese Stocks Soar On Bullish Economic Data
  • 8 hours Apple’s “Holy Grail Of Data” Leaves Energy Traders Disappointed
  • 10 hours Gold Rally Adds $250 Billion To Top 50 Miners' Market Cap
  • 1 day TikTok Is Becoming A New Battleground For Tech Politics
  • 1 day Peru's Mining Industry Pummeled As Coronavirus Cases Surge
  • 1 day Why The World Is So Divided In Its COVID-19 Response
  • 2 days Equities Cheer Stellar Jobs Report, But It May Be Fleeting
  • 3 days Is Tech Billionaire Peter Thiel Done With Trump?
  • 3 days Musk Takes To Twitter To Troll The SEC
  • 4 days Lunar Mining May Commence As Early As 2025
  • 5 days Immigration Will Go Bust Without $1.2B Bailout
  • 5 days The Economics Of The Space Race
  • 6 days Why The World's Central Banks Aren't Yet Sold On Renewables
  • 7 days How Much More Cash Can Uber Burn?
  • 7 days Inside The Biggest Counterfeit Gold Scandal In Recent History
  • 7 days EU-U.S. Trade Relations Are Deteriorating
  • 8 days Over 184 Companies Have Bailed On Facebook
  • 8 days BP Sells Petrochemical Business For $5 Billion
  • 8 days U.S. Moves To Secure Domestic Rare Earth Supply
  • 9 days E-Commerce Explodes As Boomers Go Digital
Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for the U.S.-based Divergente LLC consulting firm with over a decade of experience writing for news outlets such as iNVEZZ, Oilprice.com…

Contact Author

  1. Home
  2. Tech
  3. Tech News

Tesla To Build Its First Battery Gigafactory In China

Tesla

In a sign that Tesla is preparing to start construction of its first factory in China, Elon Musk said on Monday 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, replying to a Chinese Tesla owner who had volunteered to deliver a Tesla vehicle to a new owner.

Tesla’s China factory in Shanghai will be its first production facility outside the United States. 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.

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.  

In October, Tesla said that it had secured a plot of land for the Chinese Gigafactory in its push to start local production in the world’s biggest EV market.  

Tesla is expected to begin partial production at its first factory in China in the second half of 2019, the Shanghai government said after a meeting with local Tesla executives earlier this month.

Tesla has also started a tender process for the construction of the gigafactory in Shanghai, and at least one contractor has begun buying materials for the construction, Reuters reported in early December, citing sources and documents that it has reviewed.

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