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Yesterday Bright noted that China is a key growth market for Tesla and other EV players. The surge in Tesla's share in 2020 was arguably kickstarted by the completion of the Shanghai Gigafactory, when the market realised how quickly Tesla would increase production. Rumours are swirling that Tesla is in the process of planning a second Chinese Gigafactory.
It makes sense to have another factory in China. From breaking land to the first car rolling off of the assembly line took less than a year. Compared to Germany, where that Gigafactory has been sitting idle for over two months while they wait for final certification. The Chinese factory was also significantly cheaper than the US counterpart, over 50% cheaper!
A second factory would take Tesla's production capability to two million vehicles a year in China. For context, Toyota produced 1.6 million cars in China last year.
Time will tell if the rumours are true.
