Tesla (TSLA) Completes Expansion at Shanghai Plant

Reuters reports today that a project to expand production capacity at Tesla’s (NASDAQ: TSLA) has been completed, according to a statement on a Shanghai government platform for companies' environmental information disclosures.

Previous reports show that the electric vehicle company had been ramping up its output to reach a target of producing around 22,000 units of Model 3 and Model Y cars per week at the Shanghai plant. Tesla planned to spend $170 Million on the expansion, allowing it them to employ 4,000 more people at the site.

According to the statement on the Shanghai government platform, Tesla will test the production lines for the upgrade from Sept. 19 to Nov. 30.

Shares of TSLA are up 1.07% in mid-day trading.

By Michael Elkins | [email protected]

You May Also Be Interested In

• Tesla Crash Into Texas Home Now Under Federal Safety Probe - WSJ
• FTI Consulting names Jerome Nyssen senior managing director in Australia
• Keurig Dr Pepper coffee chief to depart ahead of planned split