© Reuters Tesla (TSLA) Completes Expansion at Shanghai Plant
By Michael Elkins
Reuters reports today that a project to expand production capacity at Tesla’s has been completed, according to a statement on a Shanghai government platform for companies’ environmental information disclosures.
Previous reports show that the electric vehicle company had been ramping up its output to reach a target of producing around 22,000 units of Model 3 and Model Y cars per week at the Shanghai plant. Tesla (NASDAQ:) planned to spend $170 Million on the expansion, allowing it to employ 4,000 more people at the site.
According to the statement on the Shanghai government platform, Tesla will test the production lines for the upgrade from Sept. 19 to Nov. 30.
Shares of TSLA are up 1.07% in mid-day trading.
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