SHANGHAI, Jan 8 (SMM) – Construction of Tesla's new manufacturing plant commenced in Shanghai's Lingang industrial zone on Monday January 7. This is the largest foreign-invested manufacturing project in the city, the Shanghai government said in a statement on the same day.
The electric carmaker aims to produce 250,000 pure electric cars per year in the first phase. Annual capacity will expand to 500,000 units upon full production.
Phase one will be completed this summer and production of its lowest-cost model, the Model 3, will start by the end of the year, according to Tesla's CEO Elon Musk.