Year-ender: Major company events in China

Tesla breaks ground on gigafactory in Shanghai

Tesla's 50-billion-yuan Shanghai gigafactory broke ground in the Lingang Special Area on Jan 7.

The 50 billion yuan plant is the company's first factory outside the United States and the first automobile production project wholly owned by foreign capital in China.

With an initial weekly production of about 3,000 Model 3 electric vehicles, the factory is designed with an annual capacity of 500,000 electric cars.

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