Recently, Tesla China released the latest progress of its Shanghai factory, stating that construction is currently going smoothly and is expected to be officially put into production by the end of 2019.

As Tesla's first overseas super factory and China's first wholly-owned automobile manufacturer, Tesla officially settled in Shanghai's Lingang area in July last year and started a crazy infrastructure construction mode:

Last October, Tesla spent 970 million yuan to acquire nearly 1,300 mu (over 860,000 square meters) of land in the Lingang area of ​​Shanghai for the construction of a super factory. The groundbreaking ceremony took place in January and the project is scheduled to be completed this summer. Judging from the latest pictures released and previous news, the factory construction is almost complete and production equipment is already being installed inside.

According to the operating lease agreement signed with Shanghai, Tesla's Shanghai factory must complete an investment of RMB 14.08 billion (approximately US$2.04 billion) in the next five years, generate annual tax revenue from the end of 2023, and pay RMB 2.23 billion (approximately US$324 million) in taxes each year, otherwise it must return the land.

After the factory is officially put into production, Tesla will have an annual planned production capacity of 500,000 vehicles in China, and the weekly production is expected to reach 2,000 vehicles. By then, models such as Model 3 and Model Y will be put into production, and Tesla will gain a huge competitive advantage in the Chinese market. This is undoubtedly particularly critical for Tesla, which is currently facing a huge funding gap and is troubled by the Sino-US trade dispute.

Recently, Tesla is experiencing a large-scale resignation wave. In mid-2019, several senior executives in charge of manufacturing have resigned, including a senior engineer in charge of body manufacturing and stamping, a production director, a production quality director, and two senior executives in charge of production. The loss of talent will deal a heavy blow to Tesla.