Video Shows Tesla Model Y Production Beginning In China

Tesla Inc TSLA is working hard to reach its goal of 500,000 vehicles produced in 2020 before the year ends.

Both the Fremont, California factory and Gigafactory Shanghai are pumping out vehicles. 

A new video shows drone footage of 40 Model Y vehicles produced at Gigafactory Shanghai.

Until this point, Tesla has only produced the Model 3 in China, but the company recently finished construction on a new portion of the factory dedicated to Model Y production.

This will help the factory achieve its goal of 550,000 vehicles produced in 2021 — compared to 500,000 for the entire company in 2020. 

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Benzinga's Take: The Model Y is extremely popular in the U.S., and is expected to be in high demand in China as well.

Tesla recently began exporting Chinese-made vehicles to Europe, so some Model Ys are expected to make it to Europe as well, at least until Gigafactory Berlin is completed.

It is still unknown what batteries are being used, but they are likely the same as the LFP in the Model 3.