It is the largest factory by volume for the company. China is a big market for Tesla. Last month, the company sold 84,159 units in China. This is an increase of 9.3 per cent over the same period last year. Recently, Tesla cut the prices of Model 3 and Model Y. Due to this the company’s sales have increased rapidly. It was recently reported that an electric car is produced every 40 seconds in this factory in Shanghai, China. For the past few quarters, Tesla’s CEO, Elon Musk has been pushing for increasing production.
Tesla’s plan to set up a factory in India is also moving forward. Recently, senior executives of the company had a meeting with senior officials of the central government. The company’s country unit Tesla India Motor and Energy has leased an office space at Pune’s Viman Nagar in Maharashtra. Tesla had registered its subsidiary in Bengaluru about two years ago. However, the company has taken a long time to start business in the country. The annual capacity of the company’s factory can be around five lakh units. The prices of the company’s India-made electric cars can start from Rs 20 lakh.
It also plans to make India a base for exports. Regarding starting a business in the country, Musk had said, “India has more potential than any big country in the world. I am confident that Tesla will come to India as soon as possible.” Musk had also hinted at visiting India next year. The company is preparing to launch fully autonomous vehicles by the end of this year. This technology is being developed for the last few years.
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