AutoBeta(AutoBeta.net)02/26 Report--

On January 7 this year, the construction of Tesla's Shanghai factory officially started, and the recent initial construction project of the factory is about to end the stage of examination and approval of environmental impact assessment. According to the document, the project will complete the construction of the four major workshops of the whole vehicle in September 2019 and other important functional areas such as the power system workshop in March 2020.

According to previous news, this project is the "first stage" of the first phase of the overall construction project, with a total investment of 14 billion yuan and an annual production capacity of 150000 pure electric vehicles, with a model of Model 3.

In July last year, Tesla announced the construction of a factory in Shanghai. Three months later, he won a piece of state-owned construction land in Lingang. Then, in less than two months, that is, January 7, the construction of the factory began. Tesla's Shanghai factory project can be very fast. According to the plan, Tesla's Shanghai factory will start producing Model 3 models before the end of the year, with an initial weekly production capacity of about 3000 Model 3 vehicles. The first phase can produce 250000 vehicles per year, and then mass production will be carried out in 2020.

Tesla's super factory in Shanghai plans to invest 50 billion yuan. At present, the first phase of the project has officially started construction, with an investment of 16 billion yuan. As for the source of funds for the construction of the factory, Tesla has adopted the way of raising funds in China. Musk said long ago that for the Chinese market, Tesla will use a loan provided by China's local bank to fund the super factory in Shanghai with local debt.

Prior to this, some people in the industry revealed, "I have heard that many banks are fighting for this, including local banks in Shanghai, state-owned banks, and foreign banks." Tesla's Shanghai factory is mainly financed by low-interest loans from local banks in Shanghai. At present, some banks have signed loan agreements with Tesla.

Tesla recently released its 2018 annual report, which showed that the company's revenue in China last year was $1.757 billion, down 15.4 per cent from a year earlier. By comparison, Tesla's total revenue in 2016 was $7 billion, including $4.2 billion in the United States and $1.06 billion in China, while Tesla's sales in China exceeded $2 billion in 2017, double that of the same period last year. Tesla's business in China fell 15.4 per cent year-on-year under the influence of the trade war.

Tesla's sales and revenue declined in China last year, mainly due to the impact of the Sino-US trade war on automobile import tariffs. Once Model 3 is made in China, it will no longer be bothered by tariffs, and Tesla's sales in China will further increase.

Welcome to subscribe to the WeChat public account "Automotive Industry Focus" to get the first-hand insider information on the automotive industry and talk about things in the automotive circle. Welcome to break the news! WeChat ID autoWechat