On July 25, Tesla took advantage of the opportunity to announce the second-quarter earnings report. And for the first time showed the inside photos of the Shanghai Super Factory.
As shown in the above picture, Tesla inserted the internal photo of Gigafactory Shanghai in the letter to the shareholders, but the picture quality is very low and only the outline is visible.
Tesla said that the Shanghai Super Factory can produce Model 3 in the most cost-effective way and is expected to start production before the end of this year.
The company also said that with the Shanghai Super Factory starting mass production of Model 3, in the 12 months before June 30, 2020, their goal is still to produce more than 500,000 electric vehicles.
The Shanghai Super Factory is the third super factory built by Tesla in the world. The other two super factories in Tesla are the Nevada Super Battery Factory and the New York Buffalo City for the production of solar roofs, energy storage walls, etc.
The Shanghai factory will focus on Model 3 and Model Y. Tesla has set a starting price of 328,000 yuan ($48,000) for the cheapest version of the made-in-China Model 3 or around 40% of the starting price of a Model S in China. The Model Y made in China will come in 2021. At the moment, all Tesla cars sold in China are imported.
In the after-hours trading on Wednesday, Tesla shares fell 11% to $235.7. Earlier, Tesla’s financial report showed that the company’s second-quarter revenue reached $6.35 billion, an increase of 59%. The net loss was $400 million, narrowing from the same period last year, but exceeded Wall Street expectations.