Tesla rides high on cost savings from China's Gigafactory – Nikkei Asia

An aerial view of new Model 3 electric vehicles sitting parked at the Tesla Gigafactory in Shanghai, China. à‚© Getty Images TAKESHI SHIRAISHI and TOMOYOSHI OSHIKIRI, Nikkei staff writers October 23, 2020 02:44 JST | North America Copy Copied PALO ALTO, U.S. — Tesla reported a significant jump in its third-quarter earnings, a testament to the success of its mass-production strategy in China that has enabled the carmaker to rely on local suppliers and slash procurement costs. The electric-car maker reported a net profit of $331 million, a 130% surge from a year earlier. “I think I’ve never felt more…