US electric vehicle manufacturer Tesla has bought a plot of industrial-use land in US for CNY973m ($ 1.7 million sq m ), to be used for a factory. The 864,885 sq m plot will be turned into the company's first factory outside of the China and, with plans for 1.7 million sq m of floor space, it is expected that its first cars will be produced in 2019 . Lingang is located on the coast, about 47 miles southeast of the center of Shanghai or a roughly two-hour subway ride. Tesla aims to create 250,000 vehicles and battery packs per year at first , but is looking to double that figure in the future. China is currently the largest global electric vehicle maker.
US electric vehicle manufacturer Tesla has bought a plot of industrial-use land in US for CNY973m ($ 1.7 million sq m ), to be used for a factory. The 864,885 sq m plot will be turned into the company's first factory outside of the China and, with plans for 1.7 million sq m of floor space, it is expected that its first cars will be produced in 2019 . Tesla aims to create 250,000 vehicles and battery packs per year at first , but is looking to double that figure in the future. China is currently the largest global electric vehicle maker.