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

Key Points
  • 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.

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Key Points
  • Tesla short seller Andrew Left of Citron Research reveals Tuesday he is now betting the stock will rise when the company reports earnings on Wednesday.
  • "Plain and simple – Tesla is destroying the competition," Left said in a blog post.
  • Left confirmed that he is still suing Tesla, despite changing his stock position.