Tesla plans new factory in Shanghai that would double China production to a million cars a year as demand for electric vehicles soars

Feb 25, 2022 | INVESTING

Tesla plans to build a new factory in Shanghai that would double its capacity to at least a million cars a year as demand soars in the world’s largest automotive market, according to sources.The US carmaker will soon begin construction of a new plant in the Lingang free-trade zone near to its enormous Gigafactory 3, said two sources with knowledge of the matter.Reuters reported on Thursday that Tesla is eyeing annual capacity of up to 2 million units in Shanghai after expansion. But the sources…

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