Tesla Inc plans to start work on a new plant in Shanghai as soon as next month as part of a plan to more than double production capacity in China to meet growing demand for its cars in the country and export markets, two people familiar with the matter told Reuters.
The cost of the planned expansion and Tesla's timetable for completion were not immediately known.
Expansion plans for the existing plant aim to put Tesla on track to produce around 1 million vehicles this year, two sources familiar with the expansion plans told Reuters, though one said this also depended on the availability of parts. That production rate would amount to about 1.1 million vehicles over a year, more than double the plant's original projected capacity.The Shanghai city government did not immediately respond to a request for comment.
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