Tesla recently announced that its Shanghai factory will increase its supply chain productivity at the end of 2020 by adding production lines for battery packs, electric motors, and motor controllers used in EVs (Electric Vehicles), the Commercial Times reported on March 11. Although the company’s US$2 billion Shanghai factory kicked off production in November 2019, only 30% of its EVs were wholly made in China as the company still needed to import 70% of key parts and components from overseas, Reuters reported on March 10. Upon completion, the factory is projected to produce 3,000 EVs per week and 150,000 EVs per year to facilitate the company to achieve the goal of 500,000 EVs globally by end-2020. In 2019, Tesla produced 367,500 EVs globally, a 7-fold increase compared to 2014.