Giga Shanghai

Rumor: Tesla May Have Acquired a Large Piece of Land Near Giga Shanghai to Expand EV Production

Rumor: Tesla May Have Acquired a Large Piece of Land Near Giga Shanghai to Expand EV Production

Photo: WU WA/YouTube

Shanghai, China, is selling an over 460,000 square meter plot of land to a new energy vehicle manufacturing facility located near Giga Shanghai. According to internal sources, it is highly likely that Tesla is the company buying the land.

Shanghai land market site has published information that state-owned land will be transferred to the use of some company. According to the document, this 461,142.40 square meter site, which is located near Giga Shanghai, will be transferred to the company for the production of new energy vehicles (eg EV). The cost of 1 square meter of land will cost the owner RMB14,925 (approximately $2,308). Most likely we are talking about the value of the land together with investments in development. That is, the entire site with buildings will cost the owner a little over $1 billion.

According to @Tesla__Mania/Twitter, people familiar with the matter said Tesla might be the company that bought the land. Although the location of the site and the intended purpose of the enterprise that will be located there strongly hint that Tesla may be the buyer, this information should be considered as a rumor until official confirmation is received.

Giga Shanghai is located on an area of ​​864,885 square meters, which is almost twice the size of the area under discussion. At the moment, it is known that soon Tesla should present a new car model, which will be more affordable and compact—especially important for densely populated countries and cities of the world. However, there is still no information about where exactly the new model will be produced, so buying a new site on which the factory will be built may be a logical continuation of the development of events.

© 2021, Eva Fox. All rights reserved.


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Article edited by @SmokeyShorts, you can follow him on Twitter

About the Author

Eva Fox

Eva Fox

Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.

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