Tesla Inc. recently reminisced about delivering the first Model 3 cars made at the company’s gigafactory in Shanghai. This milestone marks a significant achievement in the company’s history, highlighting its growth and success in the Chinese market.
What Happened
Five years ago, the first Model 3 cars produced at Giga Shanghai were delivered to customers. Since then, Giga Shanghai has produced over 3 million vehicles, with about one-third of them being exported to markets worldwide. The gigafactory in Shanghai manufactures the company’s Model Y SUV and Model 3 sedans for sale in China and export to foreign countries, including Europe.
Tesla’s Gigafactory Capacity
As per the company’s recent quarterly report, the gigafactory in Shanghai has a currently installed annual vehicle capacity of over 950,000 vehicles. The company achieved a 3 million production milestone at the factory in October, marking a significant milestone in its production history.
Social Media Post
Tesla shared a post on social media platform X, stating:
“Five years ago today, the first Model 3 cars produced at Giga Shanghai were delivered to our customers.
Since then, Giga Shanghai has produced over 3 million vehicles, about one-third of which have been exported to markets worldwide, earning widespread acclaim!
Thanks to our team for their hard work and dedication.”
Why It Matters
Tesla’s Model 3 currently starts at 231,900 yuan in China, with the more premium Performance variant starting at 335,900 yuan. The Model Y SUV, in comparison, starts at 249,900 yuan. China is an important market for Tesla, with the company reportedly selling around 657,000 vehicles in China in 2024, marking a growth of 8.8% year-on-year.
Global Deliveries
Tesla reported global deliveries of 1.79 million vehicles in 2024, down from full-year deliveries of 1.81 million in 2023, marking the first decline in over a decade.
Future Plans
Tesla is now putting up a mega factory in China aimed at the production of its energy storage products. The company started trial production at the factory in December before formally starting mass production in the first quarter of 2025.
Conclusion
Tesla’s success in China is a significant milestone in the company’s history, highlighting its growth and success in the global electric vehicle market. With its gigafactory in Shanghai continuing to produce vehicles at a rapid pace, Tesla is poised to continue its dominance in the Chinese market and beyond.