Tesla plans to gear up its Shanghai production line

“The investment comes as no surprise, as demand for electric cars is surging both in China, where its cars are loved, and overseas markets, so Tesla needs to quickly scale up its capacity,” said Roy Lu, an independent auto analyst based in Shanghai. China is the world’s largest market for new energy vehicles, including electric cars and plug-in hybrids. Over 2.5 million new energy vehicles were sold in the country in the first 10 months of this year, and total deliveries this year could reach 3 million, according to the China Association of Automobile Manufacturers. Besides production, Tesla is also…