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Tesla to invest in charging pole development

Hu Yumo
US electric carmaker says it will invest 42 million yuan to set up a plant in Shanghai for the production, research and development of charging poles.
Hu Yumo

US electric carmaker Tesla says it is to invest 42 million yuan (US$6.42 million) to set up a plant for the production, research and development of charging poles in Shanghai.

The factory will be put into production in the first quarter of 2021, the company said, with initial plans to produce 10,000 charging poles a year, mainly V3 superchargers.

This move will accelerate the popularity of the V3 supercharger to provide an efficient charging service system for Chinese consumers, the company said, giving users a range of 250 kilometers after a 15-minute charge. 

By the end of this year, Tesla plans to have 650 super charging stations and more than 5,000 super charging poles in more than 250 Chinese cities.

Tesla said on Thursday it will also establish a new research and development center in Shanghai. The new facility, at the Shanghai Gigafactory, will focus on vehicle development, energy products and charging equipment. 

The Shanghai factory aims to produce 150,000 Model 3 sedans this year and has begun exporting vehicles to Europe.

It had produced more than 85,000 vehicles with an industrial output of over 21.6 billion yuan by the end of September, with weekly production stabilizing at 3,500 to 4,000 vehicles. Exports of vehicles and batteries by the plant are estimated to reach US$ 450 million within the year.

Tesla delivered the first batch of made-in-China Model 3 sedans to the public earlier this year, one year after the company broke ground on its first overseas plant.

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