'Tesla's Shanghai factory on track to make 500,000 cars this year'

Tesla`s Shanghai factory is on track to meet its goal of making 500,000 vehicles this year, the U.S. automaker`s vice president told Chinese think tank EV100 in an interview.

The EV100 think tank quoted Tao Lin as giving the figure in an article published on its official WeChat account. Tao also said the Shanghai factory had localized more than 90% of its supply chain.

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The EV100 think tank organises an annual forum where auto industry executives meet to discuss policies and the market.

In September, Reuters reported citing sources that Tesla`s Shanghai factory was expected to produce 300,000 cars in the first nine months of the year, capped by a delivery rush in the end of the July-September quarter.

The factory makes the electric Model 3 sedans and Model Y sport-utility vehicles for domestic and international markets, including Germany and Japan.