New Delhi (CNN Business) Tesla's new manufacturing plant in China is officially under construction. CEO Elon Musk broke ground on the electric carmaker's huge factory in Shanghai on Monday, kickstarting a plan to eventually make half a million vehicles in China every year. The government also reiterated Tesla's initial target to make 250,000 cars a year, eventually ramping up to 500,000. Tesla is aiming to start production at its Shanghai Gigafactory by the end of this year. The factory, Tesla's first outside the United States, will produce "affordable versions" of the Model 3 and its yet-to-be-unveiled Model Y crossover for customers in China, Musk tweeted on Monday.

Source: CNN January 07, 2019 12:00 UTC