AutoBeta(AutoBeta.net)03/30 Report--

On January 7 this year, Tesla's China factory officially started construction, which will be the third factory after Tesla's factory in Vermont, California and Tilburg in the Netherlands.

After being in China, Tesla seems to be making electric cars in South Korea again. Myongshin, a South Korean supplier to Tesla, said it had agreed to buy a closed car factory from GM's South Korean subsidiary to make Tesla electric cars, Reuters reported.

GM announced global layoffs and restructuring plans last year, while GM closed one of its four South Korean plants and laid off thousands of workers at the end of May last year. Myongshin took a fancy to the closed GM plant. Myongshin said it would complete the acquisition on June 28th in a deal worth 113 billion won ($99.5 million) to produce Tesla cars.

Myongshin is also a supplier to Hyundai and is part of a consortium that will initially spend 200 billion won on the plant and produce 50, 000 electric vehicles a year from 2021, with an annual production capacity of 150000 by 2025, according to a local government statement.

Last year, Tesla delivered a total of 99475 Model S and Model XMagi models with a total delivery of nearly 140000 vehicles in three years, with a gross profit margin of more than 20%, while Tesla expects the Model three-week production capacity to stabilize at 7000 vehicles in 2019 and 10000 vehicles by the end of the year.

The construction of Tesla's Shanghai plant started on January 7. the first phase of the project was completed in the second quarter and began to be put into production in the second half of the year. After all, the total annual production capacity reached 500000 vehicles. Tesla has been plagued by capacity bottlenecks, Chinese factories will effectively solve their capacity bottlenecks, and South Korean Myongshin contract production Tesla, will also accelerate Tesla's global layout.

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