Tesla began its expansion into China: construction of the Gigafactory began

Tesla began its expansion into China: construction of the Gigafactory began

January 7, 2019 0 By autotimesnews

The American company started the active phase of construction of its first plant outside the United States. This was announced by Ilon Mask himself in his twitter.

Tesla Model 3 and Y will be launched in China soon, as was also reported by Elon Musk. He also added that the plant’s infrastructure will be prepared for the production of more expensive Model S and X models. Now the construction of a gigafactory in Shanghai has begun, and the first cars can get off its conveyors at the end of the year.

It is worth noting that the announcement of the start of construction of a new plant had a positive effect on the value of the shares. By the time of the close of the trading session on Monday, January 7, the cost has increased by more than 4%. The cost of building the Tesla Shanghai Gigafactory plant, according to the company’s estimates, will be about $ 2 billion.

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 Another feature of the plant will be that Tesla became the first company in the history of the whole world, which managed to achieve the opening of its production in China without the participation of local companies. If other brands had to look for someone who wanted to cooperate with them and open a joint venture with 50:50 shares, then Tesla is deprived of such shortcomings.

The planned capacity of the plant will be up to 500,000 vehicles per year. Electric vehicles from this “factory” will not go outside of China.

Meanwhile, Tesla began collecting pre-orders for Model 3 in Europe and China. The first demonstration of the “accessible” version of the electric vehicle from an American company in Europe began in November 2018.