Tesla’s Shanghai Gigafactory is moving towards the goal of producing more than 1 million vehicles per year. The Tesla Shanghai Gigafactory is the company’s first manufacturing plant in China. It is also China’s first electric car plant wholly owned by a foreign automaker, and the third Gigafactory built by the company in the world. The plant currently produces Model 3 and Model Y. Starting in January this year, with the start of mass production of the Chinese Model Y, Tesla’s production and sales in China have seen faster growth.
Earlier, there were reports that as Tesla Shanghai Gigafactory start production of the Model Y, it should help the company achieve its 2021 production goal. The goal is to produce 550,000 electric vehicles, including 300,000 Model 3 and 250,000 Model Y.
In August this year, Tesla Shanghai Gigafactory annual output of Model Y and Model 3 hit 450,000. There are speculations that the Gigafactory may soon surpass the company’s factory in Fremont, California. If this happens, it will become the world’s largest electric vehicle factory.
In the third-quarter financial report, Tesla stated that the Shanghai Gigafactory has a potential annual production capacity of more than 450,000 vehicles (Model 3 and Model Y). However, the Fremont plant has an annual production capacity of up to 600,000 vehicles.
Recently, Tesla Shanghai Gigafactory received a 1.2 billion yuan ($188.5 million) investment. This fund will go for the latest round of expansion to increase the factory’s production capacity. Tesla China intends to increase the plant’s production capacity to 1 million or 1.5 million vehicles per year. Tesla’s total vehicle deliveries this year may approach the 1 million mark, thanks in large part to the increase in the production of Model Y and Model 3 in Shanghai Gigafactory and the company’s commitment to the Fremont plant.
Tesla to complete its Austin factory by the end of this year
Tesla will spend more than $1 billion to build its manufacturing base in Austin. According to the company, it hopes to complete the construction of this factory by the end of 2021. The first model produced at the plant will be Tesla Model Y, and the plant will also produce Model 3, Cybertruck, and Semi trucks in the future. Tesla has stated that the plant will produce as many as 500,000 Model Y each year.
The total area of the factory will be close to 4.3 million square feet (approximately 39.94 square meters). Furthermore, the total cost of the factory will be $1.06 billion. According to reports, the budget for the BIW workshop is $182 million. Furthermore, the budget for the final assembly workshop is $493 million. In addition, the painting, casting, and stamping workshops have budgets of $126 million, 109 million, and 150 million respectively.