Tesla is the first wholly foreign-owned enterprise in China.
Have a car factory
The Shanghai government supported the project (
Background update, China Customs statement)
BEIJING/SHANGHAI, March 6 (1 kg of hills and Brenda Wu (Reuters)-
A Shanghai municipal government official said Wednesday that Tesla's upcoming car assembly facility in Shanghai is expected to be completed this year.
Chen made a comment on the sidelines of the annual parliamentary meeting in Beijing, adding that some of the plant's production lines will be put into operation by the end of the year.
Chen, who is in charge of the city's Economic and Information Technology Commission, did not provide any further details. The U. S.
Electric vehicle manufacturers broke ground at the Shanghai plant in January, and its CEO Elon Musk said the company's goal was to complete the initial construction this summer and start production of Model 3 at the end of the year. A full-
It may take about two years for a mature car assembly plant to be built, but the Shanghai government has supported the Tesla project, which will be the first wholly foreign-owned car assembly plant in China
It has its own car factory, which reflects a broader shift in the government to open up the car market.
Tesla has been pushing ahead with its 500,000 plan. vehicle-
The capacity plant set up a website in October, hired staff, started purchasing building materials, and set up a local finance leasing company. ]
Producing cars locally may also help Tesla minimize the impact of Sino-US relations. U. S.
The trade war forced the carmaker to lower the price of cars in the United States. S. -
Cars made in China
This is becoming increasingly important as the company tries to offset weak demand in the US.
On Tuesday, after Chinese media reported that Shanghai customs had suspended customs clearance for a batch of Tesla cars, Tesla's share price fell more than 5% in early trading.
The company said the authorities had accepted plans to resolve the issue of customs clearance.
China Customs confirmed in a statement on its official WeChat account on Wednesday that it had stopped importing Tesla Model 3 and is now monitoring the company's rectification.
It said that because there was no Chinese, the Model 3 car was stopped.
The nameplate label is missing or incorrect.
However, it added that the nameplate could be replaced at the port. (
Beijing's Qiu and Shanghai's gogoh report;
Sun yil Lei's supplementary report in Beijing;
Edited by Himani Sarkar)