Skip to main content

Tesla gets green light to start producing EVs in China

China’s industry ministry has add Tesla to a government list of approved automotive manufacturers, a designation that allows the electric automaker to begin producing vehicles in the country.

Tesla’s inclusion on the list published by the Ministry of Industry and Information Technology was reported by Reuters. A Chinese tech site also reported the news and provided a screenshot of MIIT’s approved automakers. Tesla is the first automaker listed.

TechCrunch has reached out to Tesla and will update when the company responds.

Tesla is building a $2 billion factory in Shanghai, its first manufacturing facility outside the United States.

In July, Tesla wrote in its quarterly earnings letter to shareholders that Model 3 production was on track to begin at its Shanghai factory by the end of the year. Starting production by November would be a critical milestone for the automaker if it hopes to continue to increase sales and avoid the high cost of shipping and tariffs.

Tesla wrote at the time that machinery was moved into the factory during the second quarter in preparation for the first phase of production.

The company also said in July that “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.”

Tesla has said the production line at the factory in China will have a capacity of 150,000 units annually and will be a simplified, more cost-effective version of the Model 3 line at its Fremont, Calif. factory. Tesla has also said this second-generation Model 3 line will be at least 50% cheaper per unit of capacity than its Model 3-related lines in Fremont and at its Gigafactory in Sparks, Nev.



Udimi - Buy Solo Ads from TechCrunch https://ift.tt/31kWWSU
via IFTTT

Comments

Popular posts from this blog

9 VCs in Madrid and Barcelona discuss the COVID-19 era and look to the future

Spain’s startup ecosystem has two main hubs: Madrid and Barcelona. Most observers place Barcelona first and Madrid second, but the gap appears to close every year. Barcelona has benefitted from attracting expats in search of sun, beach and lifestyle who tend to produce more internationally minded startups. Madrid’s startups have predominantly been Spain or Latin America-focused, but have become increasingly international in nature. Although not part of this survey, we expect Valencia to join next year, as city authorities have been going all-out to attract entrepreneurs and investors. The overall Spanish ecosystem is generally less mature than those in the U.K., France, Sweden and Germany, but it has been improving at a fast clip. More recently, entrepreneurs in Spain have moved away from emulating success in pursuit of innovative technologies. Following the financial crisis, the Spanish government supported the creation of startups with the launch of FOND-ICO GLOBAL, a €1.5 billi...

The Transformation Edge: Why AI is forcing the CFO and CHRO to rewrite the enterprise together

There was a time when the org chart told you how the company worked. Finance managed capital. Human resources managed people. Information technology managed systems. Operations managed workflows.  AI is blowing that model apart, creating a new discipline of “workforce economics,” where human talent, digital labor, technology investment and productivity increasingly have to be managed […] The post The Transformation Edge: Why AI is forcing the CFO and CHRO to rewrite the enterprise together appeared first on SiliconANGLE . from SiliconANGLE https://ift.tt/bDxK4Fn via IFTTT