Tesla Inc (NASDAQ:TSLA) executive Tom Zhu on Wednesday said that the company's "unique" strength lies in developing manufacturing capabilities at a ramped-up pace.
What Happened: "Many people underestimate Tesla's unique strength: developing manufacturing capabilities optimized for the fast-evolving AI era," Zhu said in a post on X.
Zhu added that once the automotive industry transitions to fully autonomous driving, "real competition will center on how efficiently vehicles can be produced." "We will be ready," the Senior Vice President of Automotive at Tesla added.
Zhu's comments refer to the speed of construction of Tesla's megafactory in Shanghai. The company started official construction of the factory in May. The company is finishing construction fast to ship megapacks from it in Q1 2025.
Proud of the team!
— LaoZhu (@tomzhu_nz) December 25, 2024
Many people underestimate Tesla's unique strength: developing manufacturing capabilities optimized for the fast-evolving AI era.
Once the entire automotive industry transitions to full autonomous driving, the real competition will center on how efficiently...
Why It Matters: The Tesla Shanghai megafactory is the company's first factory dedicated to the production of energy storage products outside the U.S. Currently, Tesla has only one other factory dedicated to manufacturing megapacks, located in Lathrop, California. The Lathrop facility has the capability of producing 40 GWh of energy storage products.
Tesla also has another factory in China called Giga Shanghai which produces the company's popular Model 3 sedans and Model Y SUVs. The company began construction of the factory in January 2019 and it became operational by the end of the year.
In the third quarter, which ended in September, Tesla manufactured 469,796 electric vehicles at its factories around the globe. The company is now planning to start production of its two-seater dedicated robotaxi product called Cybercab "before 2027."
Check out more of Benzinga's Future Of Mobility coverage by following this link.
- Tesla Cybertruck's Popularity Threatens Ford F-150 Lightning Sales, Shows Data
Photo courtesy: Tesla