Tesla Shanghai Factory Has Already Achieved Impressive Scale

Tesla's (NASDAQ: TSLA) new factory in Shanghai, China has been a blockbuster success for the company. Going from breaking ground at the beginning of 2019 to vehicle production less than a year later, the new factory has already become a critical component to Tesla's growth story. In fact, the factory is now producing so many cars that it is beginning to export vehicles to Europe instead of just making vehicles for the local market.

Here's a closer look at the factory's production capacity -- and how it has become imperative to the automaker's continued growth.

Elon Musk at the groundbreaking event for Tesla's Gigafactory 3 in China. Image source: Tesla.

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Source Fool.com