Tesla Inc. (NASDAQ: TSLA) is preparing to start the production of electric vehicle chargers in China in 2021. The carmaker has presented the papers to the Shanghai authorities and asked for consent to grow sales in the most influential car market in the world. It has been disclosed that Tesla is intending to invest $42 million yuan for the making of chargers.
The firm named the new chargers as ‘Charging piles’ is intending to commence the making near its plant in Shanghai. Currently, the firm is selling its Model 3 vehicle in China and is gearing up to produce its Model Y Utility vehicles in 2021. TSLA is anticipating to complete the factory in February. The new factory has the potential to produce 10,000 chargers a year.