Tesla's Shanghai factory to produce 2 models for first phase project

• Tesla's Shanghai Gigafactory is planning to produce two models in its first phase project, a Shanghai government filing showed on Wednesday.
• The new factory, based in eastern China, aims to manufacture Model 3 and Model Y cars, with annual capacity of 250,000 vehicles, according to a filing by the environmental assessment firm conducting a feasibility study for the project.

Tesla Model S vehicles parked outside a car dealership in Shanghai.

Johannes Eisele | AFP | Getty Images

Tesla's Shanghai Gigafactory is planning to produce two models in its first phase project, a Shanghai government filing showed on Wednesday.

The new factory, based in eastern China, aims to manufacture Model 3 and Model Y cars, with annual capacity of 250,000 vehicles, according to a filing by the environmental assessment firm conducting a feasibility study for the project.

A Tesla spokeswoman Reuters tried to reach did not immediately respond to a request for comment.

Tesla signed an agreement with the Shanghai government last week for an 860,000 square meter site to secure its first overseas Gigafactory, which will cost around $2 billion to construct.