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Tesla Announces It Secured Land for Shanghai Gigafactory

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Tesla Announces It Secured Land for Shanghai GigafactoryTesla announced plans to build a new gigafactory in China back in July.
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Tesla Announces It Secured Land for Shanghai Gigafactory

Tesla took another step toward its first factory outside the U.S.  The company  announced plans  to build in Shanghai back in July, and now it's  struck a deal  to buy the necessary land.  Tesla's announcement on Chinese social media didn't reveal the land's price tag, but  according to Reuters  the purchase price was over $140 million.  Tesla already started hiring for the Shanghai location.

The company previously said it will start producing cars there about two years after construction gets underway. 




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