Shanghai (ZXZC)- According to data from the China Passenger Car Association (“CPCA”), Tesla's Gigafactory Shanghai is expected to deliver 72,115 electric vehicles in October. This substantial number pushes the cumulative delivery count for the Jan.-Oct. 2023 to approximately 771,000 vehicles, surpassing the whole-year volume of 2022.

Model Y; photo credit: Tesla China

In addition, the factory's global exports saw a noteworthy increase in October, with over 43,000 electric vehicles shipped, marking a 42% month-on-month growth.

Tesla's third-quarter financial report for 2023 revealed a significant expansion in production capacity at its Shanghai Gigafactory. Its actual annual production capacity, which was 750,000 vehicles per year in the second quarter, has now risen to over 950,000 vehicles annually in the third quarter. This production boost has enabled Tesla to introduce the Shanghai-made updated Model 3 to multiple markets in the Asia-Pacific region and Europe.

On October 27, Tesla announced an immediate price increase of 14,000 yuan for the Model Y Performance version in China, with the adjusted starting price now at 363,900 yuan. Its official website indicates a lead-time of 2-6 weeks for the Model Y Performance version.