Tesla Shanghai Gigafactory to be completed by May

Tesla's first overseas Gigafactory in Shanghai is expected to be completed in May this year, according to Chen Mingbo, director of Shanghai Municipal Commission of Economy and Informatization on Wednesday.

Chen made the remarks on the sidelines of the annual sessions of China's top legislative and advisory bodies being held in Beijing.

"Some of the plant's assembly lines will be officially put into operation at the end of the year," said Chen.

The factory hasa planned annual capacity of 500,000 electric cars andis the first to benefit from a new policy allowing foreign car makers to set up wholly-owned subsidiaries in China.