SHANGHAI : Tesla Inc plans to start work on a new plant in Shanghai as soon as next month as part of a plan to more than double production capacity in China to meet growing demand for its cars in the country and export markets, two people familiar with the matter told Reuters.
In comparison, Toyota Motor Corp produced 1.6 million vehicles in China in 2021. General Motors produced 1.4 million with its major Chinese partner SAIC Motor Corp . Volkswagen plans to have capacity to make 1 million EVs in China by 2023.Tesla started production at its Shanghai plant - also known as the Gigafactory 3 - less than a year after breaking ground. The plant makes the Tesla Model 3 sedan and the Model Y crossover.
That production rate would amount to about 1.1 million vehicles over a year, more than double the plant's original projected capacity.The Shanghai city government did not immediately respond to a request for comment.