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Lithium Grid News: On July 10th, according to the Shanghai TV broadcast, Tesla signed a pure electric vehicle project investment agreement with Shanghai Lingang Administrative Committee and Lingang Group today .

Tesla will wholly develop a Tesla Super Factory (Gigafactory3) that integrates R&D, manufacturing and sales functions in the Lingang area. The project plans to produce 500,000 pure electric vehicles per year, which is the largest in Shanghai's history. Foreign-invested manufacturing projects.

It is understood that the Shanghai Municipal Government and Tesla have signed a memorandum of cooperation. Tesla (Shanghai) Co., Ltd. and Tesla (Shanghai) Electric Vehicle R&D Innovation Center were also unveiled simultaneously.

According to the agreement, Shanghai will actively support Tesla to establish a Tesla subsidiary and an electric vehicle R&D innovation center integrating R&D, manufacturing and sales functions in Shanghai to promote the transformation of innovative technological achievements and accelerate the development of globalization. Pushing forward the development of Shanghai's high-end manufacturing industry, accelerating the construction of a world-class automobile industry center, providing strong support for the world's cities of excellence, and achieving win-win cooperation.

Interestingly, in the middle of last year, there was an anecdote from Shanghai Lingang Group and Tesla, which was later rumored by Shanghai Lingang Group.

After the official signing of the contract and the finalization of the factory, the Tesla Shanghai plant will be the first wholly foreign-owned car manufacturer in China. At the same time, this is the first overseas factory that Tesla has finalized.

Not long ago, China’s policy of imposing a 40% tariff on imported vehicles from the United States came into effect. The highest price of Tesla’s models sold exceeded 200,000.

After Musk came to China, he immediately finalized the contract with Shanghai Lingang Group. According to the previous plan, Tesla will produce Model 3 and future Model Y models in Shanghai .

The masses are one step closer to Tesla after the price cut.