Tesla officially announced the beginning of works on construction of the Gigafactory 3 in China and CEO Elon Musk even participated in an official meeting devoted to this event, where he answered a number of questions tangential new “Giavarini” Tesla.
Musk has finally confirmed rumors that the new factory will be producing the Model Y, and Model 3, adding that the more expensive electric Model S and Model X, continue to produce in the USA and imported into China.
The new factory will be built near Shanghai, it is wholly-owned by Tesla and will not be a joint venture, as previously assumed. The building should be completed by the end of summer and start of production of electric vehicles scheduled for the second half of 2019. Total investment in construction will amount to about 2 billion and the expected production volume should amount to 500 000 electric cars per year.