RV_ Posted October 26, 2019 Report Share Posted October 26, 2019 Tesla is already selling Model 3s made in their newest Gigafactory in Shanghai China. That was fast! Because China is the world's largest auto market, Tesla is not selling the base model there as there are plenty of cheap EVs being made in China. Tesla will remain premium model there, not competing with the economy EV market. Tesla is now turning to building their third Gigafactory in Europe. Their expansion keeps putting more distance in their lead over the other ICE automakers. Excerpt: "Elon Musk, Chief Executive Officer at Tesla, is continuing to make strides with its global expansion plans after the company beat its deadline to making cars in China. Analysts from Saikyo Sakura Assets noted that Tesla’s new Gigafactory which is built in Shanghai, has already started its trial production. Elon Musk, Chief Executive Officer at Tesla, is continuing to make strides with its global expansion plans after the company beat its deadline to making cars in China. Analysts from Saikyo Sakura Assets noted that Tesla’s new Gigafactory which is built in Shanghai, has already started its trial production. Tesla is expected to make an announcement towards the end of the year of the location of its next Gigafactory, which will be based in Europe. With the expansion into China, the world’s largest car market, it is looking to provide millions of potential new customers which will likely be a crucial milestone in the company’s history paving the way for future models. “It’s remarkable how fast this Shanghai factory has come since it was only around ten months ago that they started the plant, with a recent letter to its shareholders it stated that this facility was 65% cheaper to build its Model 3 compared to its plant in America.” Commented Frank Hunter, Head of Corporate Derivatives at Saikyo Sakura Assets." More in the article here: https://finance.yahoo.com/news/saikyo-sakura-assets-comments-tesla-101700813.html https://www.reuters.com/article/us-tesla-china-idUSKBN1X40H2 Quote Link to comment Share on other sites More sharing options...
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.