Share

Three months into construction, Tesla China plant takes shape

Three months after groundbreaking, Tesla is rushing to complete its multibillion-dollar factory on the outskirts of Shanghai to capitalise on growing demand in the world’s largest electric-car market.

Foundations for the facility have been laid, and construction workers are erecting walls and other structures for the factory, which could eventually rival production from its US assembly plant.

Tesla broke ground at the 210-acre “Gigafactory 3” site, its first outside the US, in January.

Founder Elon Musk said this week that production in Shanghai could reach a rate of 2 000 vehicles a week by the end of the year.

A Shanghai government official said in March that he expected the factory’s assembly shop to be completed already in May.

The factory will help Tesla to avoid the current 15% tariff on imported cars from the US, making its pricing more competitive against local brands.

The need for Tesla to expand beyond its home market of the US was highlighted by the earnings it reported Wednesday, with first-quarter results missing analysts’ projections.

The halving of a federal tax incentive for Tesla purchases starting in January dragged on US demand in the quarter, and Tesla struggled to offset that drop by starting deliveries of the Model 3 in Europe and China.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.94
-0.2%
Rand - Pound
23.93
-0.2%
Rand - Euro
20.45
+0.1%
Rand - Aus dollar
12.36
-0.1%
Rand - Yen
0.13
-0.2%
Platinum
911.00
+1.6%
Palladium
1,012.02
+1.0%
Gold
2,215.47
+0.9%
Silver
24.79
+0.6%
Brent-ruolie
86.09
-0.2%
Top 40
68,346
+1.0%
All Share
74,536
+0.9%
Resource 10
57,251
+2.9%
Industrial 25
103,936
+0.6%
Financial 15
16,502
-0.1%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders