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.
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