(Benzinga)
As Tesla Inc (NASDAQ: TSLA) grows in popularity, it is building factories across the world to meet demand.
Not too long ago all Tesla vehicles in the world came out of the Fremont factory in California. Now Tesla has ramped up production in Gigafactory Shanghai, and can use that factor to help supply vehicles in multiple parts of the world.
Earlier this year, an anonymous source said Tesla would be exporting its made-in-China Model 3 vehicles. Now a story from Tesla fan site Tesmanian says about 3,500 Model 3s from China have made their way by ship to Europe.
Tesmanian reports that Tesla China Vice President Grace Tao has confirmed that the Standard Range Plus vehicles arriving in Europe have the same LFP battery technology as other vehicles produced in China.
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Benzinga’s Take: Manufacturing vehicles in China to export to Europe will help Tesla in several ways. The cars are being produced much closer to Europe, so shipping costs and time will be reduced.
Tesla can now also use all of its Fremont factory capacity for North America, a market that still has more demand than Tesla can currently meet. Tesla is expected to finish its Gigafactory Berlin in 2021.
