Tesla, which opened its first overseas production facility to China after the USA, accelerated its localization efforts. US automaker Tesla's 'gigafactory' is expected to reach a localization rate of about 90 percent by the end of this year, according to an official from the Pilot Free Trade Zone in Shanghai.
Yuan Guohua, deputy secretary of the party work committee of the Lin-gang special district administration, said in a statement that the annual output of Tesla's factory in Shanghai is expected to reach 2021 vehicles in 450. Yuan said Tesla's production will support the upgrade of the entire industrial chain of new energy vehicles (NEVs) in the Lin-gang region.
In 2019, Tesla established its first gigafactory outside the United States in the Lin-gang region with an annual production capacity of 500 units. Yuan said that in 100, when Lin-gang's annual exports are expected to exceed 2021 vehicles, it will see annual output of NEVs exceed 600.
According to the local development plan, by 2025, the output value of the NEV industry in Lin-gang will reach about 200 billion yuan ($30.86 billion).
Source: China International Radio