Tesla's Musk says Shanghai factory breaking ground

The 2020 Kia Soul EV which is expected to be an affordable electric car

But despite what one might read in Elon Musk's Twitter feed, it's not yet the top dog. It marks a major bet by Tesla as it looks to bolster its presence in the world's biggest auto market where it faces rising competition from a swathe of domestic rivals and its sales have been hit by increased tariffs on US imports.

After four years of planning, Tesla Inc.is finally breaking ground on its $5 billion factory in the world's biggest auto market.

It is clear based on information from the official Chinese website of Tesla that customers are now allowed to order Model 3s on the site.

Tesla signed a preliminary agreement with the Shanghai government past year to build the 500,000-unit factory in the Chinese city.

Musk has said previously he would attend the event in Shanghai.

The carmaker, which now imports US-made vehicles to sell in China, is building the plant in an auto market that is set to contract this year for the first time in decades, though so-called new-energy vehicle (NEV) sales have been strong. The two sides have called a truce in their trade fight and are engaged in talks to cool tensions, with China temporarily scrapping a retaliatory 25 percent tariff on US -made cars starting January 1.

In China, the billionaire-entrepreneur faces a vehicle market that probably shrank past year for the first time in at least two decades as uncertainties surrounding the trade fight between the world's two biggest economies, signs of weakening domestic demand and a stock-market slump take their toll on consumers.

Theresa May: Defeat for Brexit deal would put Britain in uncharted territory
May's deal and 76% said warnings over the risks of disruption in the event of a no-deal were "exaggerated or invented". Instead, he called for Brexit to be postponed until a way forward can be found.

Lawyers for investors in this case said both she and her "current or former" friend, U.S. rapper Azealia Banks, were "in direct contact with Musk in the hours and days following the tweet" and might have evidence which was in danger of being destroyed because it was likely to be stored electronically, such as on social media.

If you thought that 2018's most batshit feud was over, THEN OH BOY, YOU THOUGHT WRONG, BUDDY, as over the weekend, Azealia Banks blew up at Elon Musk yet again, claiming that she has even more dirt to dish on the billionaire, and things could get "ugly".

"With the construction of the Shanghai factory, the faster the better (for Tesla)", Kang said.

The facility is expected to churn out about 250,000 vehicles annually at first - the Model 3 and the planned Model Y - and that capacity will double over time.

He has further detailed, that the electric auto maker is aiming to finish initial construction this summer, and will start Model 3 production by the end of year.

The new Gigafactory will produce Tesla Model 3 and the produce will be used to cater to Greater China region demands.

China is the largest market for electric vehicles, and most forecasters predict EV sales in the country will accelerate rapidly as the government drives toward a goal of 100 percent electric vehicles by 2030.

Related News:

  • Australia v India: fourth Test, day five

    Australia v India: fourth Test, day five

    But play didn't resume at all once the scheduled tea break was over, as bad light hampered proceedings once again. India lead the series 2-1 after wins in Adelaide and Melbourne, with Australia's sole success coming in Perth.
    Griffin scores 26 to lead Pistons past Grizzlies

    Griffin scores 26 to lead Pistons past Grizzlies

    Grizzlies: Gasol has made a 3-pointer in 14 straight games, eclipsing the longest such streak of his career in December of 2017. Memphis (18-19) dropped below.500 for the first time since losing it season opener.
    Sharapova suffers injury blow ahead of Australian Open

    Sharapova suffers injury blow ahead of Australian Open

    Aryna Sabalenka gave another demonstration of her outstanding potential by beating Alison Riske to claim the Shenzhen Open title. In the course of the meeting, Sharapova suffered a leg injury and after the first set she was forced to take a medical time-out.
  • USS Cole bomber Jamal al-Badawi targeted in Yemen air strike

    A defense official told VOA that the US was waiting for the results of a DNA test before formally declaring al-Badawi deceased. The FBI had placed Badawi on its most wanted list , offering a $5 million reward for information leading to his capture.
    Cristiano Ronaldo: I'm not obsessed with individual prizes

    Cristiano Ronaldo: I'm not obsessed with individual prizes

    The statue is located outside of the five-time Ballon d'Or winner's personal museum, Museu CR7, in Funchal, Portugal. This means the Portuguese has now won the prestigious individual award five times, having also won it a year ago .
    Sen. Elizabeth Warren visits Council Bluffs

    Sen. Elizabeth Warren visits Council Bluffs

    It was an early jump on the race for Warren, who formed a presidential exploratory committee and began hiring staff this week. Think your friends would be interested? Warren responded: 'What I can do is I can be in this fight for all of our families.
  • Golden Globes: Bohemian Rhapsody wins best drama Globe

    Golden Globes: Bohemian Rhapsody wins best drama Globe

    The 76th Golden Globe Awards has begun, marking the official start of the awards season in Hollywood. She thanked her Korean parents, who were seated in the audience, in an emotional acceptance speech.
    Ed Sheeran heading to trial over 'Let's Get It On' lawsuit

    Ed Sheeran heading to trial over 'Let's Get It On' lawsuit

    A United States jury is to decide the outcome of a lawsuit involving British singer Ed Sheeran . Stanton noted that live footage showed Sheeran "seamlessly transitioning" between the songs.
    German politicians targeted in 'mass hack attack'

    German politicians targeted in 'mass hack attack'

    But he warned the amount of documents and personal data leaked could still have a considerable impact. Data from Germany's populist right-wing party, the AfD (Alternative for Germany), was not included.
  • Sandra Oh gets emotional at Golden Globes over strides in representation

    Sandra Oh gets emotional at Golden Globes over strides in representation

    A giant diamond choker completed her look - seemingly a throwback to Judy Garland's style in the 1954 version of " Star ". Live BlogFollow all the latest updates from Golden Globe Awards 2019.
    Saudi women to be informed of divorce via text message

    Saudi women to be informed of divorce via text message

    In these cases, often referred to as secret divorces, women often end up missing out on alimony payments. Notably, there have been several crackdowns on female activists in recent times.
    Democrats Pass Bill To Reopen Government; Shutdown Continues

    Democrats Pass Bill To Reopen Government; Shutdown Continues

    Speaking in a dimly-lit room, Tlaib told a cheering crowd: 'We're going to impeach that motherf***er'. But some Republican senators appeared open to at least part of the Democrats' proposal.


Most liked

Sentry Tournament of Champions: Round 1 recap
You know what clubs you are going to hit off all the tees and how far right or left you are going to have to aim on each hole. The Tour's winners-only event in Maui welcomes only those players who have notched victories during the 2018 calendar year.

Fiji Water girl photobomber steals spotlight on Golden Globes red carpet
Arquette thanked a long list of people, including producer Ben Stiller, who presented her the award. "You've got to angle". Henson used the moment to send a message to Momma Carol, whom she also gave a shout-out to in the Instagram video.

United States withdrawal from Syria is conditional
The president provided no firm timetable on Sunday for a pullback, simply telling reporters, "It's going quickly". The UK has formed part of the US-led coalition carrying out air strikes against so-called Islamic State in Syria.

U.S. Central Command confirms death of USS Cole bombing suspect
A man suspected in the terror bombing of the USS Cole in 2000 was killed in an airstrike at the beginning of the year, U.S. The guided-missile destroyer had just pulled into the city of Aden in Yemen for a six-hour refueling stop when it was hit.

Alexandria Ocasio-Cortez's dancing video is Cher-approved
What is it good for?" outside her new Capital Hill office with the caption, "I hear the GOP thinks women dancing are scandalous. Ocasio-Cortez's latest failure in trying to explain how she'll pay for her programs comes a day after she attacked Rep.

United Nations rights office says Saudi trial in Khashoggi case "not sufficient"
Saudi journalist Jamal Khashoggi attends a press conference in the Bahraini capital Manama, Dec. 15, 2014. He will also reinforce message in talks with Gulf, other allies that USA is not leaving the Middle East.

Global stocks soar on dovish Fed, strong USA jobs data
The Fed chairman, responding to a question about what he would do if Trump asked him to step down, said he would not resign. But some investors have anxious that that process could push long-term rates higher at a time when the economy was slowing.

Brahim Diaz seals £22m move to Real Madrid as Manchester City
However, the Blues have now accepted that Diaz , a Spain Under-21 global , will join Real Madrid for a fee that could rise to £21m.

Bayern fines Ribery for offense after gold-leaf steak furor
Check out the special steak that got Bayern Munich winger Franck Ribery into trouble after he lashed out at fans on social media. F**k your mothers, your grandmothers and your family tree as well.

LG Is Bringing Giant 8K TVs To CES 2019
LG's 88-inch Z9 OLED will be on sale for those after a huge 8K screen. 8K resolution means four times the 4K resolution. As for the pricing details, the company is yet to reveal the price tags and availability of the flagship TVs.

Chinese Rover Making Tracks on Dark Side of the Moon
The 2011 Wolf Amendment to NASA's appropriation bill effectively bars the USA space agency from collaborating with China. Its plans include establishing a permanent manned space station, a manned lunar landing, and eventually probes to Mars.

This Cowboys Cheerleader Is Going Viral During Seahawks Game
The 2-point conversion was actually Seattle's second of the half, as they also made one in the third quarter to take a 14-10 lead. But the attempt proved disastrous when Janikowski aggravated an old thigh injury and was ruled out for the remainder of the game.

Gatwick and Heathrow buying anti-drone equipment
The Israeli-developed Drone Dome system is believed to be part of the technology used at the airport by the British Army. The system has a range of several miles and uses four radars to give 360-degree detection to identify and track drones.

Some AZ Students Eligible For Millions In Debt Relief
During that time the company was "under near constant scrutiny from accreditors and law enforcement entities", according to a U.S. A spokesperson for Stein says numerous students affected here attended CEC schools in other states.

Man attacks a McDonald's employee in Florida
McDonald's has welcomed her back, but she's unsure if she'll ever return to work. "For her, this is the last straw". Rayner-Goolsby said no legal action has been taken, but she and her client are "exploring all options".