Shanghai Gigafactory to Start Production This Year, Tesla Says

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By Matthew Walsh / Aug 08, 2019 07:05 PM / Business & Tech

Tesla’s Shanghai facility is on track to officially start production at the end of this year, the company said Wednesday in a message posted to its official Weibo account.

Seven months after breaking ground, construction is progressing “smoothly” at the so-called Gigafactory Shanghai, the message said. The year-end target reaffirms a projection made last month in a quarterly earnings letter to shareholders.

Gigafactory Shanghai will manufacture a modified version of Tesla’s luxury electric vehicle, the Model 3, and will have a capacity of 150,000 units per year, the letter said.

In other Tesla-related news, the carmaker is reportedly considering hiking its prices in China from September due to uncertainty over the yuan, Reuters reported Wednesday, citing two unnamed sources.

Contact reporter Matthew Walsh (matthewwalsh@caixin.com)

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