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Technology Stocks : Tesla EVs - TSLA
TSLA 424.23-5.6%Sep 22 4:00 PM EDT

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From: Eric6/16/2019 5:33:06 PM
   of 15600
Tesla Gigafactory 3 builds up at incredible speed, already installing production equipment

Fred Lambert

- Jun. 16th 2019 3:45 pm ET




Tesla is building up Gigafactory 3, its electric vehicle plant in Shanghai, at an incredible speed. The building is almost complete and the automaker is already installing production equipment.

Gigafactory 3 is Tesla’s first manufacturing facility in China and it’s also the first electric vehicle factory wholly-owned by a foreign automaker in the country.

As the trade war between China and the US keeps getting more complicated, it’s becoming more important than ever for Tesla to have manufacturing capacity in China.

They will be able to avoid increasingly uncertain import tariffs in the biggest auto market in the world.

They have been moving extremely fast to get Gigafactory 3 ready.

About 7 months ago, Tesla announced a deal with the Shanghai government to build a wholly owned local factory and only about 5 months ago, they secured the 210-acres of land for Gigafactory 3 in China necessary.

They officially broke ground in January and plan to be done with the building by this summer.

Recent, drone video updates show that the building of the massive factory is almost completed, which is an incredible feat to do in just 6 months.

Here’s a new one filmed yesterday that features a quick little timelapse that highlights how quick this massive building is coming together:

Tesla Gigafactory 3 in Shanghai China(June 15 2019)

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Jason Yang
Published on Jun 15, 2019

Tesla founder Elon Musk revealed at the June 12 annual general meeting,The first phase of G3 completed the construction of the four major workshops of the whole vehicle - stamping workshop, body workshop, painting workshop, assembly workshop and supporting projects, which is expected to be completed in September this year. The internal and external construction of the plant is nearing completion, and the power system has begun to be erected,It seems that everything is under control.

At the Tesla shareholder’s meeting last week, CEO Elon Musk said that it is on schedule for this summer and he believes it’s the quickest car manufacturing facility to get build ever.

While the completion of the building on time is increasingly looking likely, it’s another thing to have a production ready for manufacturing.

However, Musk says that Tesla is already installing production equipment including “stamping machines, and the paint shop.”

Three weeks ago, we had our first look inside Tesla’s Gigafactory 3 with leaked pictures and the factory was empty.

In just a few months, Tesla plans to have hundreds of millions of dollars worth of production equipment installed to be able to produce thousands of Model 3 vehicles per week at the plant.

Musk said that Tesla wants to produce 3,000 Model 3 vehicles per week at Gigafactory 3 in Shanghai by the end of the year.

In Fremont, the company is currently trying to stabilize production at 7,000 units per week for a total of 10,000 Model 3 vehicles per week in total by the end of the year.

Tesla previously said that they updated the production layout designed for Gigafactory 3 to be more optimized at the new factory in Shanghai.

We’ll keep tracking the progress at Gigafactory 3 on the road to production in the coming months.
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