Elon Musk bets on doubling car production in China, with a new plant in Shanghai

The South African billionaire Elon Mus is betting on doubling the production of its Tesla cars in Chinaso it is planned construction of a new factory in Shanghai.

The works will begin in March, which confirms Tesla CEO plans of not only increasing the production of electric cars, but also that its plan is more ambitious, since its goal is double unit production.

New Tesla plant with large production capacity

The new one Tesla plant in Shanghai will have the capacity to produce up to 2 million units per yearaccording to estimates, which would put Musk’s company at the level of other automakers operating in China.

And it is that the Japanese automaker Toyotaproduced 1.6 million cars in China, the American General Motors, reached 1.4 million cars and the German Volkswagen estimates to increase to 1 million electric vehicles by 2023.

While currently Tesla on track to produce 1 million cars in Chinawhich includes its Model 3 sedan and Model Y crossover.

Last year, Tesla produced about 936,000 carsof which it is estimated that half were manufactured in China, according to reports from the Reuters agency.

The rise of the Gigafactory 3

For now, it was announced that the plant will be built very close to the current Tesla factory, which is known as Gigafactory 3, which is located near Lingang, in Shanghai.

Unlike other foreign automakers operating in China, the Chinese government has exempted Tesla from partnering with local automakers.

So that Elon Musk’s company owns the plants where their cars are produced.

In addition, Tesla has significantly increased its sales in China, and as if that were not enough, its plant in Shanghai has become an important export point to markets such as Germany and Japan.

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