News Snapshot:
Tesla reportedly plans to drastically increase its electric vehicle (EV) production capacity in Shanghai – the source of Australian Model 3s – to meet spiking demand across the globe. Reuters reports a new plant near its extant Shanghai base, which is also due for upgrades, would bring its China production capacity for domestic market sales and exports to around two million cars per year. In its most recent shareholder deck, Tesla said the current annual capacity for the Model 3 and Model Y in Shanghai was greater than 450,000 – meaning a colossal increase is on the cards, both in...
