Tesla’s Gigafactory in Shanghai will manufacture Model 3 and Model Y cars in its first phase and will have an annual capacity of 250,000 vehicles according to a filing seen by Reuters.
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Last week, Tesla signed an agreement with the Shanghai government to build a Gigafactory. It will cost Tesla around $2 billion to construct.
On Monday Tesla bumped up plans to release earnings to Wednesday and will also update on its production. This has some speculating results may be stronger than anticipated.
Tesla’s shares rallied Tuesday after noted short seller Citron Research, said that it was now “long” on the company.