News Snapshot:
Bloomberg / Shanghai Tesla Inc plans to invest as much as 1.2bn yuan ($188mn) in its Shanghai plant to upgrade equipment as the factory gets closer to exhausting its current capacity, according to people familiar with the matter. The facility, which broke ground in January 2019, is expected to reach the limit of its production capacity this year, the people said, asking not to be identified as the details are confidential. The electric vehicle pioneer, headed by Elon Musk, said in its 2020 annual report that the installed annual production capacity of the factory is 450,000 vehicles. A document on...
