Elon Musk is constantly in the headlines. It’s not a big surprise since he has become the world’s richest man on the Forbes list, and also is the mind behind Tesla and SpaceX two very important companies in recent times. If that isn’t enough, Elon has just become the biggest stockholder in Twitter and tried to acquire a large portion of the company to have total control over Twitter’s actions and future. However, the company used the old “Poison Pills” tactics to break Elon Musk’s plans. Today, Elon is not in the headlines due to a new plan to devour Twitter, but due to the recent advancements of another of his companies – Tesla – in the Chinese stronghold.
In case you’re unaware, Tesla is establishing its presence in the competitive Chinese market. The company wants to take a good slice of this important market for vehicles, especially smart electric ones. In recent weeks, Tesla’s Shanghai Gigafactory had to deal with an interruption in its work. Not a big surprise, since China is facing another recent surge in the cases of the COVID-19 pandemic. Despite this, Tesla has made great progress in restarting the production lines. In light of what he considers a “great work” Elon Musk expressed his contentment with the Chinese front of Tesla.
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According to the report, Tesla Shanghai Gigafactory resumed work smoothly on April 19. On that day, around 8000 employees arrived, and the whole vehicle was gradually restored. To those unaware, this is Tesla’s second overseas Gigafactory. The plant mainly produces Tesla Model 3 and Tesla Model Y electric vehicles. Back in 2021, Tesla’s Shanghai Gigafactory managed to deliver a total amount of 484,000 vehicles which was a significant increase. To put things in perspective, it was a 235 percent year-on-year increase for the company accounting for 51.7 percent of Tesla’s total global deliveries.
Back the last Wednesday, Elon Musk, has reached a set of goals and for his good performance at Tesla, he will receive around $23 billion in new compensation. The world’s most valuable carmaker has shared its records for Q1 2022 with a profit. The company managed to overcome the inflation and also the recent closure of the Chinese plant. According to market analysts, Elon Musk intends to sell some of Tesla’s actions to fund his offensive investment on Twitter.
