Tesla (NASDAQ: TSLA) saw its 5-millionth battery pack roll off the line at Giga Shanghai, marking a milestone for the American electric vehicle (EV) maker's largest global production facility.
Tesla first shared the milestone on X today along with several images, later posting the moment on Weibo as well.
Tesla independently develops cell chemistry and designs battery pack structure, delivering high performance, energy density, and exceptional cold-weather resilience, the company wrote on Weibo.
The battery system is designed to support mileage exceeding the vehicle's lifecycle, with safety standards surpassing industry norms by several times, Tesla said.
Notably, Tesla does not manufacture its own battery cells in China. Giga Shanghai primarily sources cells from China's CATL (HKG: 3750) and South Korea's LG Energy Solution.
Construction of Tesla's Shanghai factory commenced on January 7, 2019, with operations beginning by the end of the same year. It's China's first wholly foreign-owned automotive manufacturing project.
Giga Shanghai began delivering the Model 3 sedan to local consumers in January 2020 and started Model Y SUV deliveries in January 2021.
The factory -- with an annual production capacity of about 1 million vehicles -- serves both domestic customers and functions as an export hub.
In the third quarter, Tesla China's sales including exports reached 241,890 units, accounting for 48.66 percent of Tesla's global deliveries, according to data compiled by CnEVPost.
During the first three quarters, Tesla China's sales including exports totaled 606,364 units, representing 49.79 percent of Tesla's global deliveries of 1,217,902 units over the same period.
Notably, Tesla's domestic sales performance in China has been weak this year.
Its October retail sales in China came in at 26,006 units, marking the lowest level since November 2022, according to data from the China Passenger Car Association (CPCA).
This represents a 35.76 percent year-on-year decline from 40,485 units and a 63.64 percent month-on-month drop from September's 71,525 units.
