The company told investors Wednesday that Tesla’s ( TSLA ) new Gigafactory in Shanghai started trial production "ahead of schedule" this month and is building "full vehicles, from body to paint to general assembly." And the company plans to announce the location of its next Gigafactory in Europe by the end of the year, Musk added. A couple of sprawling, international production plants will likely be critical to Tesla’s future. Easier access to major global car markets — China is the world’s largest — could give the company tens of millions of potential new customers. And success for Tesla in China and elsewhere could boost confidence that the company has the ability to hit delivery targets as it grows. The Shanghai factory is also notable for how quickly it came together. It was only 10 months ago that Tesla broke ground on the plant . And in a letter to shareholders , the company said the facility was about 65% cheaper to build than its Model 3 production plant in the United States. "We have also dramatically improved the pace of execution and capital efficiency of new production lines," the company said in its letter. Tesla shares soar on […]


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