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Tesla to Expand Parts Production In Shanghai on Export Demand

Shanghai plant production jumped 235% to over 480,000 vehicles in 2021, with one-third going to export markets


The logo of car manufacturer Tesla is seen at a dealership in London
The logo of car manufacturer Tesla is seen at a dealership in London, UK. Photo: Reuters

 

A document filed with the Shanghai city government says that Tesla plans to expand parts production at its Shanghai factory to meet growing demand for exports.

The automaker will add production workshops, increase the number of workers and lengthen the time equipment is operational, according to the document.

Exact figures were redacted from the document, which was filed on Tuesday.

Tesla’s Shanghai factory can now make a combined total of 450,000 Model 3 and Model Y vehicles a year.

Xinhua reported Tesla’s Shanghai plant produced over 480,000 vehicles in 2021, up some 235% over 2020. Of those 480,000 vehicles, over 160,000 were exported to 10 different countries.

In November 2021, Beijing Daily reported that Tesla plans to invest up to 1.2 billion renminbi (US$190 million) to expand production capacity at its Shanghai factory, and to boost staff by 4,000 positions.

 

  • Reuters, with editing by Neal McGrath

 

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Neal McGrath

Neal McGrath is a New York-based financial journalist. Neal started his career covering the Asia-Pacific region for the Economist Intelligence Unit, then joined Asian Business magazine. He's subsequently held a variety of editorial positions covering business, economics, finance and sustainability. Neal has lived and worked in Hong Kong, Singapore, Germany and the US.