Tesla to build first overseas plant in Shanghai

Илон Маск рассказал что в Норвегии зря обижаются на Tesla

The vehicle has put a strain on Tesla's finances, as the company has posted significant losses in the quarters since it was launched. (TSLA) finally met its production goal for 5,000 Model 3's per week in the last week of the June quarter after a series of production setbacks and missed targets.

"Shanghai will be the location for the first Gigafactory outside the United States", Musk said in a statement released by the company and Shanghai's government.

Bloomberg described Tesla's decision as a "bold move", since the auto company has been "burning through billions of dollars as it's struggled to ramp up manufacturing of the Model 3 sedan".

Tesla is the first automaker to reach this milestone, while General Motors has said that it expects to follow sometime later this year.

Fremont workers were invited to sign a poster proclaiming Tesla's new "5K Club".

This week, US -based electric vehicle manufacturer Tesla announced that it reached a deal with the government of Shanghai to build a second "gigafactory" in China.

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The carmaker also has a giant battery factory in Nevada. It is expected to serve as a research, manufacturing and sales center. The success of the tax credit as a policy decision will hinge on whether Tesla and its peers get there eventually.

In an interview with Bloomberg, Tesla CEO Elon Musk said "we were huge idiots and didn't know what we were doing" when redesigning the production process for the company's Model 3 sedan. He also blames the EV maker for his problems of finding legal representation, stating: "There's nearly a cult of Tesla".

Analysts estimate that China takes up 16 percent of the total number of deliveries Tesla made in 2017, behind only USA who dominates at 48.6 percent. Ironically, notes Jack Stewart at Wired, the timing means most of this tax credit will go to customers who could afford the luxury prices of the Model S and Model X. By the time the more accessibly priced Model 3 becomes widely available, middle class customers will have a shrunken benefit.

Fired Tesla employee Martin Tripp company was accused of defrauding investors and using risky batteries in the Assembly of electric vehicles.

People walk past a showroom outside Tesla China headquarters at China Central Mall in Beijing, China July 11, 2018.

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