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Tesla said Wednesday that Model 3 production is on track to begin at its Shanghai factory by the end of the year — a critical milestone for the automaker if it hopes to continue to increase sales and avoid the high cost of shipping and tariffs.
The Gigfactory Shanghai “continues to take shape, Tesla wrote in its quarterly earnings letter to shareholders. Machinery was moved into the factory during the second quarter in preparation for the first phase of production.
Timing - Gigafactory - Shanghai - Ramp - Production
“Depending on the timing of the Gigafactory Shanghai ramp, we continue to target production of over 500,000 vehicles globally in the 12-month period ending June 30, 2020,” the company wrote.
That is a rosier outlook than the company provided just three months ago when it said that goal didn’t appear very likely. At the time, Tesla noted that it was “targeting” as many as 500,000 vehicles globally based on reaching volume production early in the fourth quarter. “However, based on what we know today, being able to produce over 500,000 vehicles globally in the 12-month period ending June 30, 2020 does appear very likely,” the company wrote in its...
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