A few months ago, Tesla confirmed reports that the company was looking to establish a factory in Shanghai to better serve the Chinese market. On Oct. 17, Tesla announced it had secured the rights to a 210-acre piece of land in Lingang, Shanghai on which it will build Gigafactory 3.
The electric car company plans to build Gigafactory 3 on an accelerated construction schedule in order to get the factory up and running as quickly as possible in the face of new tariffs. Between import tariffs and ocean transport costs, Tesla is operating at a 55% to 60% cost disadvantage compared to the same car produced locally in China.
See Also: Under-development solar panels snap together and turn waste heat into hot water
Construction is expected to begin in the near future and take about two years, and $2 billion, before the factory can produce vehicles. It will take another two or three years from that point before the factory is at full power, which will allow it to produce about 500,000 vehicles per year.
Gigafactory 3 will be the first Gigafactory outside of the United States. Gigafactory 1 is located at the Tahoe Reno Industrial Center in Nevada. Gigafactory 2 is located in Buffalo, N.Y.
Related Stories
| Aug 11, 2010
AECOM, Arup, Gensler most active in commercial building design, according to BD+C's Giants 300 report
A ranking of the Top 100 Commercial Design Firms based on Building Design+Construction's 2009 Giants 300 survey. For more Giants 300 rankings, visit http://www.BDCnetwork.com/Giants
| Aug 11, 2010
Turner Building Cost Index dips nearly 4% in second quarter 2009
Turner Construction Company announced that the second quarter 2009 Turner Building Cost Index, which measures nonresidential building construction costs in the U.S., has decreased 3.35% from the first quarter 2009 and is 8.92% lower than its peak in the second quarter of 2008. The Turner Building Cost Index number for second quarter 2009 is 837.
| Aug 11, 2010
AGC unveils comprehensive plan to revive the construction industry
The Associated General Contractors of America unveiled a new plan today designed to revive the nation’s construction industry. The plan, “Build Now for the Future: A Blueprint for Economic Growth,” is designed to reverse predictions that construction activity will continue to shrink through 2010, crippling broader economic growth.
| Aug 11, 2010
PCL Construction, HITT Contracting among nation's largest commercial building contractors, according to BD+C's Giants 300 report
A ranking of the Top 50 Commercial Contractors based on Building Design+Construction's 2009 Giants 300 survey. For more Giants 300 rankings, visit http://www.BDCnetwork.com/Giants
| Aug 11, 2010
Webcor, Hunt Construction lead the way in mixed-use construction, according to BD+C's Giants 300 report
A ranking of the Top 30 Mixed-Use Contractors based on Building Design+Construction's 2009 Giants 300 survey. For more Giants 300 rankings, visit http://www.BDCnetwork.com/Giants
| Aug 11, 2010
Report: Fraud levels fall for construction industry, but companies still losing $6.4 million on average
The global construction, engineering and infrastructure industry saw a significant decline in fraud activity with companies losing an average of $6.4 million over the last three years, according to the latest edition of the Kroll Annual Global Fraud Report, released today at the Association of Corporate Counsel’s 2009 Annual Meeting in Boston. This new figure represents less than half of last year’s amount of $14.2 million.
| Aug 11, 2010
University of Florida aiming for nation’s first LEED Platinum parking garage
If all goes as planned, the University of Florida’s new $20 million Southwest Parking Garage Complex in Gainesville will soon become the first parking facility in the country to earn LEED Platinum status. Designed by the Boca Raton office of PGAL to meet criteria for the highest LEED certification category, the garage complex includes a six-level, 313,000-sf parking garage (927 spaces) and an attached, 10,000-sf, two-story transportation and parking services office building.