China Tesla To Break Ground On New Manufacturing Plant In China

[xizhimen]

Tesla To Break Ground On New Manufacturing Plant In China​

Thursday, February 24, 2022

Electric vehicle maker Tesla (TSLA) plans to break ground on a new manufacturing plant in Shanghai, China as soon as next month (March) as it takes steps to more than double its production capacity.

Once the new plant is fully operational, Tesla will have the capacity to produce up to two million electric cars per year at its expanded Shanghai campus, the company's main global export hub. Tesla is trying to meet growing demand for its cars within China and in foreign export markets.

The new production plant will be based in the vicinity of Tesla’s existing production base in Lingang, Pudong New Area.

The expansion, if it goes ahead, would give Tesla production capacity in the world's largest auto market that is on a par with more established brands in China. Toyota Motor (TM), for example, produced 1.6 million vehicles in China last year. General Motors (GM) produced 1.4 million with its major Chinese partner SAIC Motor Corp.

Tesla’s existing Shanghai plant currently makes the Tesla Model 3 sedan and the Model Y crossover vehicle. Tesla has projected to take its weekly production to about 22,000 vehicles at the plant in the coming months.

Tesla sales have surged in China and its Shanghai factory has become a crucial export hub to markets such as Germany and Japan. Last year, Tesla's China-made cars accounted for around half of the 936,000 vehicles it delivered globally.

Earlier this month, Tesla said its China revenue more than doubled in 2021 to $13.8 billion U.S. from the previous year. Elon Musk also said in October that Shanghai had surpassed its Fremont, California factory, the company's first manufacturing plant, in output.

Tesla To Break Ground On New Manufacturing Plant In China

Electric vehicle maker Tesla (TSLA) plans to break ground on a new manufacturing plant in Shanghai, China as soon as next month (March) as it takes steps to more than double its production capacity. Once the new plant is fully operational, Tesla ...

www.baystreet.ca

 

[xizhimen]

Elon Musk doubles down on China with Tesla plant in Shanghai: report​

By Ariel Zilber
February 24, 2022 12:37pm
Updated

Tesla CEO Elon Musk is bullish on China. The electric car maker is reportedly set to break ground on a new factory in Shanghai.AFP via Getty Images
Tesla will break ground next month on a new factory in Shanghai — solidifying Elon Musk’s commitment to double production of electric vehicles in China, according to a report.


The new factory in China’s financial hub will enable Tesla to produce up to 2 million units annually, putting the electric vehicle maker on a par with legacy car manufacturers who have also set up operations in the Asian country, Reuters reports.

The Post has contacted Tesla seeking comment.

The plant is slated to be built near Tesla’s current factory, known as Gigafactory 3, in nearby Lingang.

Last year, Toyota facilities in China churned out 1.6 million cars while General Motors manufactured 1.4 million. Volkswagen hopes to ramp up capacity in China to 1 million electric vehicles by 2023.

Tesla currently is on track to produce 1 million cars, including the Model 3 sedan and the Model Y crossover, this year in China.


Tesla hopes to double its manufacturing capacity in China and eventually produce up to 2 million electric vehicles per year.Getty Images

The company’s enlarged footprint in Shanghai can be traced to the welcoming business climate in the city.

Unlike other foreign auto manufacturers, Shanghai has exempted Tesla from partnering up with a domestic car maker, allowing Musk’s firm to completely own the facility which produces its products.

Tesla sales have surged in China and its Shanghai factory has become a crucial export hub to markets such as Germany and Japan.

Last year, Tesla’s China-made cars accounted for around half of the 936,000 vehicles it delivered globally, based on Reuters calculations using China Passenger Car Association data.

Tesla’s deepening tie
s to China have been criticized in the United States, particularly in light of alleged human rights abuses by the government in Beijing.
When Tesla recently opened up a showroom in Xinjiang province, Musk was accused of supporting genocide.

Shanghai, a financial hub, has welcomed Tesla with open arms — exempting the company from partnering up with a domestic car manufacturer.Getty Images

Chinese authorities have allegedly targeted Uyghur Muslims and other religious minority groups in Xinjiang as part of a crackdown the US government has labeled a genocide.

Beijing is accused of establishing internment camps and forced labor facilities in a brutal crackdown on religious and ethnic groups in Xinjiang. The Chinese government denies the allegations.

Elon Musk doubles down on China with Tesla plant in Shanghai: report

Tesla will break ground next month on a new factory in Shanghai — solidifying Elon Musk’s commitment to double production of electric vehicles in China, according to a report. The new f…

nypost.com