cageymaru
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Electric car manufacturer Tesla has successfully purchased the land for its Shanghai Gigafactory. The 860,000 square meter plot in China cost the company $140.51 million and will be home to a $2 billion factory. The annual output of the factory is estimated at 500,000 electric cars. China has an insatiable desire for new-electric vehicles.
Tesla signed a long-anticipated deal with Shanghai authorities in July to build its first factory outside the United States, which would double the size of its global manufacturing and help lower the pricetag of Tesla cars sold in the world's largest auto market. "Securing this site in Shanghai, Tesla's first Gigafactory outside of the United States, is an important milestone for what will be our next advanced, sustainably developed manufacturing site," Robin Ren, Tesla's vice president of worldwide sales, said in a statement.
Tesla signed a long-anticipated deal with Shanghai authorities in July to build its first factory outside the United States, which would double the size of its global manufacturing and help lower the pricetag of Tesla cars sold in the world's largest auto market. "Securing this site in Shanghai, Tesla's first Gigafactory outside of the United States, is an important milestone for what will be our next advanced, sustainably developed manufacturing site," Robin Ren, Tesla's vice president of worldwide sales, said in a statement.