Model Y and Model 3 Will be Built in Tesla's New Chinese Gigafactory
Tesla's Shanghai Gigafactory is planning on producing two models during its first phase project. The plans were was revealed in a Shanghai government filing last week. The two models produced at Tesla's new factory in Eastern China will include the Model 3 and company's upcoming Model Y crossover.
The environmental assessment firm that is conducting a feasibility study on this project also revealed the factory's annual production capacity. The firm has reported that the Tesla factory will have an annual production capacity of 250,000 vehicles.
So far, there has been no official statement released by Tesla. This will be Tesla's first-ever international Gigafactory. The company has entered into an agreement with the Shanghai government last week to procure an 860,000 square meter site. It has been reported that the construction of the Gigafactory will cost around $2 billion.
Tesla recently experienced a surge in its popularity with the launch of Model 3, which faced several production challenges. Ever since its introduction, the car has managed to become one of the most popular midsize sedan in America. The Model 3 has also managed to attract buyers from other consumer bases, including premium and performance sedans.
The delivery time of Model 3 has decreased substantially and now stands at anywhere between 6 to 10 weeks. With an expansion of this scale in Shanghai, Tesla will be able to further decrease the delivery time.
The Model Y is not the official name of the company's upcoming affordable crossover. Tesla, however, have been using the name when referring to the upcoming electric vehicle, which will be based on the current Model 3 platform.
Elon Musk, CEO of Tesla confirmed that the Model Y will get the same 'Falcon Wing' doors which are also found on the Model X SUV. Not much has been confirmed about the upcoming crossover, but it has been speculated that Model Y will share many components of the Model 3.
In past, Tesla took the same approach with its Model S and Model X EVs, as both quite similar to each other in terms of features and options.
Last month, Elon Musk approved the final Tesla Model Y prototype during Tesla's third quarter financial results conference call. The Model Y is slated to go into production in the year 2020.
Musk said that the company is working on making the upcoming all-electric crossover its priority.
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