The Tesla Shanghai Factory building is nearing construction completion as seen in several videos filmed of the site.
In March, Shanghai official Chen Mingbo stated that the initial buildout of the factory should be completed by May. Tesla may start Model 3 trial production as early as September.
The Tesla factory in China is critical for Tesla to recover share price and increase sales. The factory in China will be able to sell electric cars in China without a 15% tariff and other charges.
In April, Elon Musk indicated that he expects Tesla to be able to reach 2000 car per week production at the Shanghai factory by the end of 2019. In January, Elon talked about 3,000 Model 3 cars a week in Shanghai but without a specific date.
Full production will be 500,000 cars per year at the Shanghai Tesla factory. If Tesla can get close to that level in late 2020 or 2021, then the company would be solidly profitable and stable. China has an overall electric vehicle demand which would give Tesla the room to win large market share. Maxing the factory in China might also see a second China factory in 2021.
There were 110,000 electric vehicles sold in China in March 2019. Tesla sold 5300 Model 3’s in China in March.
Tesla sold 78% of the plug-in electric cars in the USA in March.
SOURCES- Tesla, Cleantechnica
Written By Brian Wang, Nextbigfuture.com
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
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