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Tesla Plans To Ramp Up Model 3 Production In Shanghai

Tesla Plans To Ramp Up Model 3 Production In Shanghai

The volume of production of Tesla Model 3 electric cars at the Assembly plant in Shanghai will be brought to 4 thousand units per week by the middle of 2020.

By the end of 2019, the factory in Shanghai, according to official data, produced up to 280 electric vehicles per day. In the first quarter of this year, the company built only one model - the Model 3 in the Standard Range Plus version, and since April, online configurators for the Long Range and Performance versions have been launched. In the second quarter, the report indicates, the automaker intends to work on improving Assembly lines for the release of the Model Y crossover, which should begin to arrive to customers in 2021.

Tesla's only electric vehicle Assembly plant outside the United States is located in China. The agreement on the construction of the enterprise located in the Lingang district near Shanghai was signed in July 2018.

The construction of the plant is in the final stage, and the first Assembly lines have already been launched. Tesla plans to gradually increase its annual production to 500 thousand cars. The total investment in this project will be about 50 billion yuan (about $7.2 billion).

Tesla was founded by entrepreneur Elon Musk in 2003. The company's headquarters are located in the American city of Palo Alto (California). At first, the company specialized exclusively in the production of electric vehicles, but later became engaged in the creation of solar panels and other energy storage systems.

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