xinhua silk road logo xinhua silk road logo
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

maritime silk road search
Company

Feature: Top speed at Tesla Shanghai gigafactory

August 29, 2019


Abstract : As Elon Musk, CEO of U.S. electric carmaker Tesla Inc., visits Shanghai this week, he will see first-hand how fast his gigafactory has been built.

SHANGHAI, Aug. 28 (Xinhua) -- As Elon Musk, CEO of U.S. electric carmaker Tesla Inc., visits Shanghai this week, he will see first-hand how fast his gigafactory has been built.

In just over seven months since his previous visit, a gigantic plant covering 864,885 square meters has already taken shape on a piece of empty land in Lingang Area, a high-end manufacturing park in the southeast harbor of Shanghai.

"The factory is speeding up its construction at an unprecedented rate," said Tesla's vice president Grace Tao. "The production equipment has already entered the plant, and installation and testing are going smoothly."

In January, Tesla broke ground on its Shanghai factory, becoming the first to benefit from a new policy allowing foreign carmakers to set up wholly owned subsidiaries in China.

The plant is expected to start production at the end of this year, with an initial weekly production of about 3,000 Model 3 electric vehicles, a smaller and more affordable model sold at a starting price of 328,000 yuan (about 46,300 U.S. dollars).

At the Shanghai plant, "our dreams are becoming reality at the fastest pace in the world," said Tao.

"It's a gigantic project like I've never seen before," said a project supervisor at the site. "It's really an exciting scene for the auto industry."

The Tesla gigafactory is Shanghai's largest foreign manufacturing project to date. It is expected to have an annual production capacity of 500,000 electric vehicles on completion.

"However, speed is not the only criterion for the construction of the plant," said Tao. "We are also focusing on making the most advanced and safest products in the world."

According to Tesla, the production line for the Model 3 in Shanghai will be more streamlined and cost-effective, with the cost per unit capacity expected to be 50 percent lower than that in the United States.

After Tesla in late May started pre-orders for the Model 3 that would be manufactured in Shanghai, a large number of customers visited the company's Demo Room in central Shanghai to check out the new model.

A product specialist surnamed Hu was impressed by the purchasing power of Chinese consumers as well as their growing awareness of environmental protection.

"I believe that the products of the Tesla factory in Shanghai will achieve good sales performance in the future," Hu said.

Despite slower growth, China remained the world's largest auto market, with 28.08 million autos sold in the country last year, according to the China Association of Automobile Manufacturers.


Scan the QR code and push it to your mobile phone

Keyword: Tesla

Reading:

Economic Watch: Shanghai FTZ opens new area

Commentary: China remains strong magnet to foreign investors amid external headwinds

Financial institutions speed up layout in new area of Shanghai FTZ

Energica signed an agreement in Hong Kong for the electric streetfighter

Former General Motors senior executive takes co-CEO of EV startup Seres

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial