Insight: Tesla accelerates plans for ‘Gigafactory 3’

Tesla accelerates plans for ‘Gigafactory’

Tesla Inc will start partial production in China in the second half of next year, the Shanghai municipal government said on Wednesday, as the US electric vehicle maker advanced its push in the world’s largest auto market.

Tesla confirmed the latest developments with China Daily on Thursday, saying these accorded with an earlier statement made in its quarterly results to speed up the manufacturing timeline in China in order to “significantly increase the affordability of the Model 3”.

“We are aiming to bring portions of Model 3 production to China during 2019 and to progressively increase the level of localization through local sourcing and manufacturing,” the automaker said in late October. “Production in China will be designated only for local customers.”

In July, Tesla Chief Executive Officer Elon Musk signed an agreement in Shanghai to open Tesla’s “Gigafactory 3” in the city, with the capacity to produce 500,000 electric vehicles a year.

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