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Tesla finalises location for its Gigafactory in China


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Tesla announced on Chinese Social media that it has acquired a 860,000 square metre land from the Shanghai Government to build its Gigafactory in China.
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This acquisition is a step forward for the electric carmaker as it paves way for producing their vehicles locally in China. Tesla has seen itself being caught in the crossfire between Beijing and Washington which has led to imposition of high tariffs on its vehicles in the Asian country.

With growing completion from local manufacturers as well as other carmakers, Tesla has been witnessing slower growth than expected in the biggest auto market in the world.

Being able to produce vehicles locally in China will help the company put a more attractive price-tag on its vehicles and stay competitive.

Tesla plans to produce 500,000 vehicle annually at this plant in Shanghai.

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Tesla finalises location for its Gigafactory in China
Modified on Friday 19th October 2018
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