This post was originally published on this site
https://i-invdn-com.investing.com/trkd-images/LYNXMPEJBL02F_L.jpg
The project is capable of producing 10,000 megapacks per annum, and the ceremony was held in Shanghai, the official Xinhua News Agency reported.
Tesla (NASDAQ:TSLA) did not immediately respond to a request for comment.
Construction on the new project is scheduled to begin in the first quarter of 2024 with production starting in the fourth quarter, the report added, suggesting a slower-than-expected rollout of the powerful battery project.
Tesla said in April that it would start construction in the third-quarter, with production expected to begin in the second quarter of next year.
The U.S. electric vehicle manufacturer’s gigafactory in Shanghai is producing at an annual capacity of 1.1 million units. Tesla has yet to obtain approval from regulators on further expanding the capacity for EVs in Shanghai.
