US electric-car manufacturer Tesla [TSLA:US] will start a limited production of vehicles in its new Shanghai-based Gigafactory in 2H19, as reported by Yicai Global on December 6. Shanghai's mayor, Jing Yong, visited the plant in the Lingang Industrial Area on December 5 and stated that Tesla’s Gigafactory is the largest foreign-invested industrial project in the city’s history.
In July 2018, Tesla secured a 200-acre plot of land in Lingang to build its first overseas plant. The Gigafactory is projected to cost more than USD2bn and has the capacity to produce 250,000 cars yearly. Having a plant in the mainland will allow