Tesla and SpaceX CEO Elon Musk speaks in a"fireside chat at the National League of Cities 2018 City Summit in Los Angeles Californi
08 January, 2019, 01:39
In July, Tesla raised the prices of the Model 3 and the Model Y by about 20 per cent in the mainland after Beijing slapped an additional 25 per cent tariff on American-made vehicles, a retaliatory measure against the USA administration as trade tensions between the two countries escalated.
Musk said on Twitter on Monday that Tesla is aiming to complete construction of the factory this summer, with production of the vehicles scheduled to begin by the end of 2019.
Tesla said in October it had signed an agreement for a 210-acre (84-hectare) site in the Lingang district in southeastern Shanghai.
Electric carmaker Tesla's first plant outside the U.S., the Gigafactory 3 in Shanghai, is about to begin construction.
Shares in Chinese suppliers to Tesla, including Tianjin Motor Dies Co Ltd and VT Industrial Technology Co Ltd, rallied on Monday after Musk's tweets.
The Shanghai venture comes as United States companies face pressure from President Donald Trump to keep manufacturing jobs at home, and as Beijing and Washington wage a trade spat that has seen both sides levy tariffs on hundreds of billions of dollars of products.
Analysts say production in China would allow Tesla to side-step such measures, which have already caused a spike in the price of the cars the company now imports to the Chinese market.
But construction of the plant - the subject of stop-start negotiations between Tesla and Shanghai for well over a year - gets under way just as the outlook for China's consumer market has turned worrisome.
Apple sparked global alarm over the prospects for the world's second-largest economy last week when it cut its revenue forecast, citing slowing demand in China and the trade war.
But the pace of growth is expected to slow along with China's economy.
Tesla unveiled its first Gigafactory in 2016, which was initially a "tent" production facility in the Nevada desert.
The Tesla boss said: "We think with the resources here we can build the Shanghai Gigafactory in record time and we're looking forward to hopefully having some initial production of the Model 3 towards the end of this year".
"Shanghai Giga production of Model 3/Y will serve greater China region", Musk added in another one.
Musk said the plant, known as Gigafactory 3, will produce up to 500,000 Model 3 and Model Y vehicles for China and other nearby markets when it is completed in 2020. Apple triggered global equity losses last week when it said slackening Chinese demand spurred it to cut its revenue outlook for the first time in nearly two decades. He provided no price figures for China-made cars.
The Tesla brand is growing in popularity in China despite a rising rivalry from Nio - a local electric auto manufacturer, CNBC reported.
Tesla's factory in China - the world's biggest vehicle market - will be its first outside the US.
Alabama on the other hand bested its season average for three-point percentage shooting 44 percent (10-of-23) from beyond the arc. Outside of a rough season opener against Duke and a last-second loss to Seton Hall, this team has all the makings of a contender.
De Blasio has since ordered flags throughout the five boroughs to fly at half staff in honor of Pollard's courage and sacrifice. Pollard was responding to a two-car accident that seriously injured two males on the westbound side of the bridge around 10 p.m.
Moreno denied that the case exposes divisions within the court, which has acted consistently in line with the government. Responding on Twitter, Maduro declared: "Legitimacy has been given us by the people with their vote".
I think that it would be fabulous to play with any of the clubs, but I would love to play for one of the big clubs. Napoli are reportedly prepared to fight Chelsea for the signing of PSV Eindhoven winger Hirving Lozano.
Clemson and Alabama are meeting in the playoff for the four straight season and third time for the championship. Here are five bold predictions for Clemson football heading into the big game Monday night.
He wrote on social media: "Was involved in a very bad auto accident last night due to a flash flood and mudslide". Motorists are urged to use caution on mountain roads, where up to 4 feet of snow could fall in the Sierra Nevada.
His departure comes days after co-defensive coordinator Alex Grinch was named the new defensive coordinator at Oklahoma . BuckeyeGrove.com is reporting that Ohio State's defensive coordinator will not return to the program in 2019.
Celtic sign Timothy Weah on loan from PSG
He told Celtic's official website: "I'm really looking forward to seeing all the fans at the home game at Celtic Park". With the quality of players they have, it's hard for him to get in and get any game-time.
Aquaman is the biggest DC Extended Universe movie ever
Bonus fact: Aquaman is now the third-largest underwater movie, behind Finding Nemo and its sequel Finding Dory. Fans from around the world are trying their best to let Aquaman earn over $1 billion at the box-office.
MI man detained in Russian Federation , brother speaks
The other trip to Russian Federation was this December after a close friend - another ex-soldier - chose to get married in Moscow. His family said he was in Moscow over the holidays for the wedding of a fellow former Marine and had planned to travel to St.
Shocking moment mum drives off with toddler on the roof
Concerned drivers attempted to alert the mother, who eventually responded to flashing lights and beeping horns and pulled over. The driver stopped the auto after other motorists got their attention and the child was removed from the roof.
First partial solar eclipse of 2019 tomorrow
The duration of all solar eclipse phases will be four hours and fifteen minutes from start till end of the partial solar eclipse . The partial solar eclipse will be visible within the eclipse viewing area, but must be watched with proper eye protection.