Tesla’s Gigafactory Shanghai has entered its second phase of construction after the first phase was completed in less than one year.
Tesla is reported to be putting together “a major engineering team in China.”
“Looking forward to breaking ground on the @Tesla Shanghai Gigafactory today!” tweeted Tesla CEO Elon Musk.
Despite escalating China-U.S. trade tensions, Tesla acquired a land area measuring around 860,000 square meters (214 acres) in Shanghai's Lingang Area at the price of nearly 900 million yuan ($140 million) on Oct. 17, according to Shanghai Land Market.
Tesla Inc. registered a new car firm in Shanghai with 100 million RMB from the solo shareholder of TESLA MOTORS HK LIMITED, the Tencent Auto reported.
In mid-April, media reported that in a summit organized by the Chinese auto industry, a source disclosed that Tesla will establish a wholly-owned factory in China in 2018.