Tesla has officially confirmed its plan to build a factory in China, marking a significant step in the company's global expansion strategy. During a recent earnings call, CEO Elon Musk revealed that the company will not make major capital investments in China before 2019, with initial production focused on the Model S and Model X models. However, the long-term goal is to shift towards producing more affordable electric vehicles, such as the Model 3 and the entry-level Model Y crossover.
The news of Tesla's potential factory in China first emerged last week, and Musk officially confirmed the plan during the conference call, offering more details about the project. The facility is expected to serve both the Chinese market and neighboring regions, with production likely starting within the next few years.
According to Musk, the Shanghai-based plant will initially produce Model S and Model X cars, but the focus will soon shift to the more affordable Model 3 and Model Y. He explained that these lower-cost models are better suited for the Chinese market, where demand for electric vehicles is growing rapidly. When asked about the scale of the factory, Musk stated that it will have an annual production capacity of at least hundreds of thousands of vehicles, with the potential for even greater output in the future.
Notably, the Wall Street Journal also reported on Tesla’s plans, confirming that the factory will be located within the Shanghai Free Trade Zone and will be fully owned by Tesla. However, the company will still be subject to a 25% tariff on imported vehicles. This development underscores Tesla’s commitment to the Chinese market and its long-term vision for local production.
Despite the ambitious plans, Musk emphasized that major capital expenditures on the Chinese factory will not occur before 2019. This suggests that the initial phase will focus on planning, setup, and gradual scaling rather than immediate large-scale investment. Overall, the move represents a key milestone in Tesla’s global strategy and highlights the importance of the Chinese market in the company’s future growth.
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