Tesla is expected to achieve a localization rate of about 90 percent in its Shanghai Gigafactory by the end of this year, according to an official with China (Shanghai) Pilot Free Trade Zone (FTZ).
On Tuesday, the deputy secretary of the Party working committee of the Lin-gang special area administration of the FTZ, Yuan Guohua, said the yearly output of the automaker’s Shanghai factory is expected to reach 450,000 vehicles this year. A total of 66,100 finished vehicles would be exported by the end of the year.
The automaker’s production would promote the upgrade of the complete industrial chain of new energy vehicles (NEVs) in the Lin-gang area, Yuan said.
In 2019, Tesla built its first Gigafactory outside the United States in the Lin-gang area, to produce 500,000 units per year.
Lin-gang will see the annual output of NEVs cross 600,000 units by this year, when the yearly exports are expected to exceed 100,000 vehicles, Yuan aded.
According to the local development strategy, by 2025, the output value of the NEV market in Lin-gang would reach about 200 billion yuan ($30.86 billion).
