Connect with us

News

China formally adds Tesla Gigafactory 3 area to Shanghai’s Free-Trade Zone

The Tesla Gigafactory 3 site as of July 2019. (Credit: Jason Yang/YouTube)

Published

on

The Chinese government has stated that it is formally expanding Shanghai’s Free-Trade Zone (FTZ) to include the Lingang area, which hosts the site of Tesla’s Gigafactory 3. The update comes amidst a set of new tax incentives and import duty exemptions, which are being rolled out amid China’s continued trade tensions with the United States. 

The plan to expand the FTZ was revealed by the State Council, China’s cabinet, in an announcement on Tuesday. The addition of the Lingang area, which is around the same size as the Hong Kong special administrative region, will roughly double the size of the Free Trade Zone.

China’s vice-commerce minister Wang Shouwen, who is among the country’s delegation in its trade talks with Washington, highlighted Beijing’s commitment to the expansion of the FTZ. “The expansion of the Shanghai FTZ is also an important step to demonstrate China’s clear stand for all-round opening up in the new era and its active role in guiding the healthy development of economic globalization,” Wang said. 

With trade tensions with the United States hitting 13 months to date, Wang noted that Beijing would not hesitate to open its markets further, irrespective of developments in China’s trade ties with other countries. Speaking about these developments to the South China Morning Post, Shanghai vice-mayor Chen Yin noted that duties would also be deferred, or in some instances, not even collected, on certain products that are shipped through the new Lingang area. 

“Goods from abroad entering the fenced customs areas of the new area will be under bonded or tax exemptions,” Chen said. 

Advertisement

The formal addition of the Lingang area to Shanghai’s Free Trade Zone has been expected for some time, especially after Chinese President Xi Jinping stated last November that the FTZ would be expanded as a way for the country to deepen economic reforms and open up its market. Cao Hua, a partner at Unity Asset Management, a private equity firm, explained this in a statement. 

“It is a vast area that can accommodate mega-manufacturing projects, commercial complexes, and entertainment facilities. The announcement about its inclusion in the FTZ is not a surprise, but it boils down to whether land resources and financial capital will be used effectively to turn Lingang into a boomtown,” Cao noted. 

The formal inclusion of the Lingang area bodes well for Tesla, whose electric car manufacturing facility is nearing completion. The progress of Gigafactory 3’s construction has been rapid, with local media reports stating that trial Model 3 production runs could begin as early as September, ramping to a manufacturing rate of 3,000 vehicles per week once operations are fully underway. 

Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

Comments

Elon Musk

Tesla subject to another arson vandalism as 17 cars lit on fire in Rome

Published

on

Credit: Tesla

Tesla has been hit with another round of arson-type vandalism in Rome, Italy, as 17 cars at a showroom in the city were destroyed in a blaze.

Italian anti-terror police unit Digos is investigating the fire that claimed 17 Tesla vehicles. The unit believes that a group of anarchists set fire to the cars last night in what is the most recent instance of violent vandalism against the company.

Tesla Italy said it is cooperating with police, according to a report from ABC News, which said in its report that 16 cars were counted as destroyed in the fire.

The Rome Fire Department said it was investigating “all avenues” of how the fire started. This is the second fire that has destroyed Tesla vehicles in Italy in a week, as a car dealership in Northern Rome also caught fire. That was initially cited as an electrical issue that started the blaze, but police are still investigating.

Unfortunately, this is far from the first instance of arson against Tesla in the world, especially in the last few months as CEO Elon Musk has become the target of attacks across the globe. Not only is the company being impacted, but owners are as well, as there have been many instances of targeted attacks against Tesla drivers.

In the United States, attacks are becoming more frequent and more violent. Everything from Molotov cocktails to bullets have been used to intimidate and damage Tesla’s company property.

Meanwhile, drivers are continuing to report that their vehicles have been keyed, had their tires slashed, or worse, as a result of driving the company’s products.

The most recent example saw a 61-year-old woman be blocked in and assaulted by a 33-year old:

The U.S. has established a Task Force within the FBI to fight Tesla-related attacks. Additionally, the Trump Administration has labeled these acts as domestic terrorism.

Continue Reading

Investor's Corner

Tesla (TSLA) shares company-compiled Q1 2025 delivery consensus

Analysts are expecting the electric car maker to post 377,592 deliveries for Q1 2025.

Published

on

Credit: Tesla China

Tesla (NASDAQ:TSLA) has released its Q1 2025 company-compiled delivery consensus of sell-side analysts. Based on Tesla’s release, it appears that analysts are expecting Tesla to post conservative vehicle delivery results for the first quarter.

Images of Tesla’s Q1 2025 company-compiled consensus were shared recently on social media. 

The Consensus

As could be seen in Tesla’s first quarter 2025 company-compiled vehicle delivery consensus, analysts are expecting the electric car maker to post 377,592 deliveries for Q1 2025. Analysts expect this number to be comprised of 351,893 Model 3/Model Y and 21,241 other models.

The company-compiled consensus also suggests that Tesla will see total deliveries of 1,851,001 vehicles this Full Year 2025. From this number, analysts expect 1,693,397 units of the Model 3 and Model Y and 145,162 units of Tesla’s other models.

The sources

Tesla’s company-compiled consensus was based on estimates from 27 firms. These include Daiwa, DB, Wedbush, Cowen, OpCo, Canaccord, Baird, Wolfe, Exane, GS, Evercore ISI, Barclays, PSC, Mizuho, BofA, Wells Fargo, Morgan Stanley, Truist, UBS, Jefferies, Guggenheim, JPM, Redburn, Needham & Co, HSBC, Cantor Fitzgerald, and William Blair. 

Advertisement

FactSet expectations

As noted in an Investor’s Business Daily report, FactSet estimates suggest that Tesla will see vehicle deliveries of 407,900 units in Q1 2025. Such a number is quite optimistic considering that Tesla’s sales of its best-selling vehicle, the Model Y, were throttled during the quarter due to the company’s transition to the new Model Y. 

Beyond Q1 deliveries, Tesla’s first quarter vehicle delivery results could trigger revisions to the company’s full-year delivery and earnings forecasts. FactSet data shows Q1 earnings estimates hitting 48 cents per share, down from 57 cents in late January and 74 cents late last year. For 2025, analysts now see earnings per share climbing 13% to $2.74, a drop from $3.31 before the Q4 earnings release.

Continue Reading

Elon Musk

Tesla supporter struck with vehicle by anti-Musk protestor at counter-protest

Published

on

tesla
(Credit: Tesla)

A man who showed up to counter-protest an anti-Elon Musk and anti-Tesla rally in Idaho was struck by a vehicle driven by a member of the “Tesla Takedown” movement.

A 49-year-old man arrived at the anti-Musk and anti-Tesla rally on Saturday to counter-protest the event when a 70-year-old reportedly made “an obscene gesture” toward him and struck him with his car.

Reports state that the victim of the attack showed up in a truck with pro-Donald Trump flags and had just parked his vehicle when he was hit by 70-year-old Christopher Talbot.

While protests against Musk, Tesla, and Trump have not been uncommon, we are now starting to see that things are turning more violent. The Meridian Police Department is upholding everyone’s right to protest but believes that things are starting to get over the line:

“The Meridian Police Department reminds people to respect everyone’s right to protest and express their 1st Amendment Rights without resorting to violence.”

Some media reports seem to be blaming Musk and Tesla for Talbot’s actions, stating that “Musk has taken on a prominent and divisive role in President Donald Trump’s second administration,” as ABC News said.

However, pro-Trump and pro-Musk protestors have just as much of a right to speak out against the “Tesla Takedown” movement, especially considering many of the actions the administration and Musk have taken in recent months are blown out of proportion or are mislabeled and dramatized by mainstream media.

It is important to note that this is not the first time this has happened, and it was a Tesla driver who performed this same kind of unacceptable behavior in a previous instance. There is no justification for this kind of action, and it is now up to law enforcement to get things under control before more events like this happen.

Tesla owners are growing tired of being victims to various instances of violence and vandalism against their cars and other property simply because they are driving a vehicle manufactured by the company.

In a recent op-ed, I wrote that more lawsuits should be filed by victims of vandalism as things like an FBI Task Force and even President Trump himself stating that these acts are considered “domestic terrorism” may not be enough.

With that being said, just because someone drives a Tesla, it does not mean that they support Musk or the Trump administration. Most people buy vehicles not as political statements but as a choice that fits their lifestyle and their tastes.

Continue Reading

Trending