Tesla sets up super factory in Shanghai

US-based EV industry leader Tesla sets up a super factory in Shanghai on Tuesday, marking the city's biggest ever foreign-funded manufacturing project.

A Tesla Model X sits on display at the 2018 Beijing International Auto Show in Beijing on May 1, 2018. [File Photo: VCG]

According to the cooperation memorandum signed by Shanghai government and the company, the plant plans to produce 500,000 electric vehicles a year.