Tesla representatives in Shanghai have confirmed that the project is being successfully implemented. The investment volume is about 50 billion yuan, making it the largest production project with foreign capital in the history of Shanghai. For Tesla, this is the first enterprise of this kind outside the United States. Previously, the exact amount of investment in the project was not disclosed.
The agreement to build the plant was reached by Tesla in July 2018 with the administration of the Lingang district and the Lingang corporation. By 2020, it is planned to start production of the Tesla Model 3 here, and then gradually increase production to 500 thousand cars per year. Construction work on the assembly shop should be completed in May, and by the end of the year it is planned to put into operation individual assembly lines.
The choice of Shanghai for the Tesla plant is not accidental: this city leads in China in terms of the spread of cars running on alternative energy sources. As of the end of 2018, 239 thousand such vehicles were registered in the metropolis.
