CEO Elon Musk To Build Tesla Gigafactory in China Soon; Expected To Produce 5 Lakh Electric Vehicles Each Year
Bullish on his Chinese dream, Musk last July said he had excellent meetings with senior country leaders and will aim to invest long-term in the country.
Beijing, Jan 7: Electric car maker Tesla CEO Elon Musk on Monday said he was set to lay the foundation of a Tesla Gigafactory in China that is expected to produce 500,000 electric vehicles per year -- doubling the production capacity of Tesla. Bullish on his Chinese dream, Musk last July said he had excellent meetings with senior country leaders and will aim to invest long-term in the country. He signed a preliminary agreement with the Shanghai government to build a Tesla Gigafactory in China. Elon Musk's SpaceX Successfully Launches Military Rocket for US Air Force.
"Looking forward to breaking ground on the @Tesla Shanghai Gigafactory today!" tweeted Musk.
"Aiming to finish initial construction this summer, start Model 3 production end of year & reach high volume production next year," he said, adding that "Shanghai Giga production of Model 3/Y will serve greater China region".
According to Teslarati, a multi-platform company with a focus on everything that Musk has, vehicle production at "Gigafactory 3" would start two years after its construction begins.
"Such an aggressive timeline is classic Elon Musk, especially considering that components of Gigafactory 3, such as the advanced manufacturing robots and machinery that would be used to build the vehicles, would likely be coming from abroad," the report said.
(The above story first appeared on LatestLY on Jan 07, 2019 11:41 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).