Tesla Breaks Ground on Factory in China
According to a report on Seeking Alpha, Tesla (NASDAQ:TSLA) broke ground on its Chinese Gigafactory where it plans to mass produce Model 3 and Model Y electric vehicles.
“We think with the resources here we can build the Shanghai Gigafactory in record time and we’re looking forward to hopefully having some initial production of the Model 3 towards the end of this year and achieving volume production next year,” Elon Musk stated at the event.
The local Gigafactory is the first wholly-owned car plant in China operated by a foreign company.
