Advertisement
Tesla plans new factory in Shanghai that would double China production to a million cars a year as demand for electric vehicles soars
- The US carmaker will soon begin construction of a new plant in the Lingang free-trade zone near to its enormous Gigafactory 3, said two sources
- The move represents a huge effort to ramp up production amid soaring demand for Tesla’s electric vehicles from customer in China and abroad
Reading Time:2 minutes
Why you can trust SCMP
3
Tesla plans to build a new factory in Shanghai that would double its capacity to at least a million cars a year as demand soars in the world’s largest automotive market, according to sources.
The US carmaker will soon begin construction of a new plant in the Lingang free-trade zone near to its enormous Gigafactory 3, said two sources with knowledge of the matter.
Reuters reported on Thursday that Tesla is eyeing annual capacity of up to 2 million units in Shanghai after expansion. But the sources who spoke to the Post, on condition of anonymity, said that is more likely to be the longer-term figure rather than the immediate capacity that becomes available once the new plant is complete.
Advertisement
The move represents a huge effort to ramp up production amid soaring demand for Tesla’s electric vehicles (EVs) from customers in China and foreign markets, the sources said.
Telsa China declined to comment.
01:25
Tesla breaks ground on first overseas factory in China
Tesla breaks ground on first overseas factory in China
“I believe that Tesla will build a new factory in China sooner rather than later,” said Gao Shen, an independent analyst in Shanghai. “The company has already shown how fast it can build a plant when the first phase of the Shanghai factory was constructed.”
Advertisement
Select Voice
Choose your listening speed
Get through articles 2x faster
1.25x
250 WPM
Slow
Average
Fast
1.25x