Tesla to spend $188M to upgrade, expand Shanghai plant

Tesla Shanghai plant — (BLOOMBERG/Photographer: Qilai Shen/Bloombe)

By:

Bloomberg

November 29, 2021 01:26 AM

Tesla Inc. plans to invest as much as 1.2 billion yuan ($188 million) in its Shanghai plant to upgrade equipment as the factory gets closer to exhausting its current capacity, according to people familiar with the matter.

Featured Stories

Hyundai Mobis targets top 3 supplier spot, downplays tariffs as South Koreans ‘win with winners’

Stacking tariffs add costs and uncertainty for auto suppliers

March-Q1 U.S. auto sales: Key takeaways as tariffs neared

Trade war casualty: Volvo to drop China-made S90 in U.S., cut incentives

Latest News

Hyundai Mobis targets top 3 supplier spot, downplays tariffs as South Koreans ‘win with winners’

Dodge showcases electric Charger Daytona with new virtual experience

CarMax stock plunges 17% after removing financial targets

Trump tariffs: Retail technology vendors help dealerships pivot

Staying current is easy with newsletters delivered straight to your inbox.

See More in China

Chinese car exports to Russia hit by taxes, consumer uncertainty

March new-car sales jump 14% on incentives, trade group says

China light-vehicle exports under more pressure as U.S. tariffs roil overseas markets

EV boom masks economic pain for China’s major auto hubs

Staying current is easy with newsletters delivered straight to your inbox.