Tesla redeemed Chinese land for Gigafactory

The deal is estimated at 140 million US dollars, and the plant will still receive about $2 billion.

Tesla Motors management and the Shanghai government signed an agreement on the purchase of land for the construction of the newest enterprise, where electric cars and batteries will be made - Gigafactory 3.

Reuters writes that the company will be built on an area of ​​95 hectares near Shanghai. The novelty will strengthen the position of the American company in the electric car market, and the cost of cars will decrease. The production capacity of Gigafbrick 3 will reach about 500,000 cars annually.

In the period January-September, 721,000 electric machines were sold in China, which is 81% better than the results of 2016.