Tesla to expand parts production in Shanghai to meet export demand -document
Reuters
Published Feb 23, 2022 03:55AM ET
SHANGHAI (Reuters) - Tesla (NASDAQ:TSLA) Inc plans to expand parts production at its Shanghai factory to meet growing demand for exports, according to a document it filed with the city government.
The automaker will add production workshops, increase the number of workers and lengthen the time equipment is operational, the document.
Exact figures were redacted from the document, which was filed on Tuesday. Tesla did not respond to a request for comment.
Tesla's Shanghai factory currently has the capacity to produce a combined 450,000 Model 3 and Model Y vehicles a year.
Last year, it sold over 470,000 China-made cars.
Xinhua news agency has reported that more than 160,000 Tesla China-made cars were sold overseas in 2021.
In November, the state-backed Beijing Daily newspaper reported that Tesla plans to invest up to 1.2 billion yuan ($190 million) to expand production capacity at its Shanghai factory, allowing it to employ 4,000 more people at the site.
($1 = 6.3210 Chinese yuan)
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Written By: Reuters
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