Construction began today on Tesla's new Gigafactory in China, which will be built in Shanghai.
Represents an investment of two billion dollars (about €1.76 billion) and will be the first foreign-owned car factory built in China (until now the factories were owned by joint ventures established between foreign brands and Chinese brands).
In a ceremony attended by, in addition to Elon Musk, several representatives of the Chinese government, the CEO of the American brand revealed that the plan is to start producing the Tesla Model 3 there before the end of the year, in 2020 the factory must be working at its maximum capacity.
According to Bloomberg, the factory will be able to produce 500,000 units per year , in other words, about twice the target established by the brand currently. Despite the high production capacity, the models will be produced there, the Tesla Model 3 and later the Model Y, intended only for the Chinese market.
Factory in Europe on the way
It is expected that with the creation of this new factory, the price of the Tesla Model 3 will drop in China, going from around 73,000 dollars it currently costs (around 64,000 euros) to around 58,000 dollars (around 51,000 euros) .
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In addition to the factory in China, Tesla plans to build a Gigafactory in Europe, the fourth Gigafactory for the North American brand. However, there is still no date set for the start of construction of the manufacturing unit.
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