Tesla celebrated the acquisition of land for its new megapack battery production factory in Shanghai on Friday, according to Chinese official media.
The facility has the capacity to produce 10,000 megapacks each year, and the event was conducted in Shanghai, according to the official Xinhua News Agency.
Tesla did not reply quickly to a request for comment.
The new project’s construction is set to begin in the first quarter of 2024, with production beginning in the fourth quarter, according to the article, implying a slower-than-expected deployment of the powerful battery project.
Tesla said in April that building will begin in the third quarter, with production set to begin in the second quarter of next year.
The gigafactory in Shanghai of the American electric car manufacturer has an annual capacity of 1.1 million units. Tesla has yet to get regulatory clearance to further increase EV capacity in Shanghai.
Tesla Inc., founded in 2003, has developed to become one of the leading makers of electric vehicles (EVs). Tesla launched the Roadster in 2008, featuring cutting-edge battery technology and an electric engine. The Model S, the world’s first luxury all-electric car, was delivered by the firm.
Tesla debuted the Model X, Model 3, Tesla Semi, Model Y, and Cybertruck between 2015 and 2019. Tesla’s cars have gone 3 billion autonomous miles by April 2020, compared to Google’s Waymo’s 20 million miles. Production began at its Shanghai site by the end of 2019. Within the first nine months of 2020, it boosted revenues from China by 90%.
Tesla made a gigantic profit of $5.6 billion in 2021 and delivered over 936,000 cars to consumers. The company’s market capitalization has risen to $1 trillion. It is currently worth more than the combined value of the world’s top nine automakers. Tesla was admitted to the S& P 500 index in December 2020, solidifying its spot in the top tier.
It is exciting to see how Tesla went from a cash-strapped start-up to one of the world’s leading vehicle manufacturers in less than a decade. Analyze Tesla’s purpose, operational objectives, and culture to comprehend its meteoric journey to the top.
Tesla is a disruptive innovator and a forerunner in the production of electric automobiles. In the transportation industry, the corporation is driving technological and operational change. Its revolutionary smartphone-style updates enable the corporation to rapidly debut technology with defects and fix it via ongoing upgrades. This strategy enables quick expansion.
