A recent research found that the construction of Tesla Gigafactory 3 is going pretty well in Shanghai. Currently, the engineering construction of the factory is coming to an end, with the installation of production equipment following at the next stage, according to Ma Chunlei, the Deputy Secretary General of Shanghai Municipal People's Government and Director of Shanghai Development and Reform Commission, who announced the news at the Information Office of the State Council on July 2, 2019.
Mr Ma also expressed that Tesla Gigafactory 3 is ready to go into production by the end of this year, with the estimated production capacity of 3,000 vehicles per week. It is believed that the Tesla Model 3 made in Shanghai, China might be soon on the market probably at the end of this year or at the beginning of next year.
It is reported that the total investment of Tesla
Gigafactory 3 in Shanghai reaches USD7, 268,498,000 (RMB50 billion). According
to Mr Ma, the first phase of the project costs USD2, 035,179,440 (RMB14
billion). About 150 thousand new energy pure electric vehicles (Model 3) can be
The project of Tesla Gigafactory 3 in Shanghai has drawn a lot of attention for the sake of the fact that it has been moving forward at the top speed. The contract of the project was officially signed in July last year. Just 3 months later, Tesla and the land bureau of Shanghai signed a contract for assignment of the right to the use of land. Besides, only 5 months were spent on the process of examination and approval. It was not until July 1 this year that the construction of Tesla Gigafactory 3 began.
Tesla Gigafactory 3 covers a total area of 860 thousand square meters, with main functions of R&D, manufacture and sales in new energy pure electric vehicles. It is estimated that the annual capacity of Tesla can get to 500 thousand vehicles, including Model 3. With the nationalization, prices of Model 3 are predicted to drop by more than 40%.
At the press, Mr Ma concluded that Tesla Gigafactory 3 is the largest foreign-owned manufacturing project in Shanghai since reform and opening in China.
According to official statistics, the sales volume of
Tesla in Chinese market broke through USD2 billion in 2017, with a year-on-year
growth of over 90%. This makes China the biggest market of Tesla outside of the
Elon Musk, CEO of Tesla, once said that electric
vehicles have a huge market. In China, electronic vehicles occupy a small
percentage in auto markets, which creates a huge opportunity for auto
It is of a great symbol for Tesla to become the first exclusively foreign-owned enterprise with its own factory that gets the approval in China. As the latest data shows, in the first 11 months of 2018, 102 foreign manufacturing projects were introduced in total in Shanghai, with a year-on-year growth of 67.2%.
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