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2021-03-15
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Tesla Prepares For Shanghai Gigafactory Expansion
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The electric car maker currently manufactures the Model 3 sedan and Model Y compact sport utility vehicle at the Shanghai factory.</p>\n<p>While reporting its fourth-quarter results in January, Teslasaidthat the Shanghai factory can sustain Model 3 production at or above a run rate of 250,000 per year. Model Y production at the factory started in late 2020 and is in the process of ramping to full capacity.</p>\n<p><b>Why It Matters:</b> The electric car maker has previously said it planned to fulfill its localization commitment to the Chinese government and shorten the issue of long lead times for parts imported from the U.S.</p>\n<p>The adjustments to the manufacturing processes are also part of Tesla’s efforts to boost sales in China, the company’s second-largest market. 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In February, Teslasaidits China sales doubled on a year-on-year basis to $6.6 billion.\nIn January, Tesla opened pre-orders for the Model Y in China, only to sell out three months’ worth of vehiclesin a matter of days.\nPrice Action: Tesla shares closed 0.8% lower on Friday at $693.73.","news_type":1},"isVote":1,"tweetType":1,"viewCount":39,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/322654583"}
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