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Tesla Gigafactory 3 in China to finish initial construction in summer after groundbreaking event
Elon Musk has arrived in China for the groundbreaking ceremony of Gigafactory 3. Set to be built in Shanghai’s Lingang Industrial Zone, the upcoming facility is expected to produce both batteries and electric cars for the Chinese market. Vehicles that would be produced in Gigafactory 3 include the Model 3 sedan and the Model Y SUV.
Clues about Tesla’s Gigafactory 3 groundbreaking event emerged this weekend, ironically after Tesla’s critics shared information about the route of Elon Musk’s private airplane. By late Sunday (early Monday morning in China), invitations for the event emerged online. Tesla owner-enthusiast @vincent13031925, for one, shared an image of an invitation for the Gigafactory 3 groundbreaking event, forwarded by a Shanghai Tesla Owner’s Group member.
As could be seen in the event’s invitation, guests for the Gigafactory 3 groundbreaking event can check-in as early as 14:30 local time. The event itself is expected to begin around 15:00-15:30 local time.

On late Sunday US time, Elon Musk confirmed his presence in China, stating that he was looking forward to the Gigafactory 3 groundbreaking ceremony. Musk also provided some details on the project’s timeline, stating that Tesla is aiming to complete the facility’s initial construction this summer, followed by Model 3 production beginning at the end of the year. High-volume Model 3 production in Gigafactory 3 is expected to start sometime next year. In a follow-up tweet, Musk added that the Model 3 and Model Y produced in the facility would serve the greater China region.
Aiming to finish initial construction this summer, start Model 3 production end of year & reach high volume production next year
— Elon Musk (@elonmusk) January 7, 2019
Prior to Elon Musk’s arrival, Gigafactory 3’s site, an 864,885-square meter plot of land in Shanghai’s Lingang Industrial Zone, has already been seeing a lot of activity. Last month, for example, a perimeter fence around the massive site was completed, paving the way for more work to be done. Shanghai Mayor Ying Yong and Vice Mayor Wu Qing also met with Tesla and its construction partners to encourage them to expedite the buildout of the battery and electric car factory.
Earlier this month, documents were shared online pointing to Tesla acquiring a construction permit to start building facilities for Gigafactory 3. Granted by the Shanghai Municipal Government, the permit is good for two stages of construction and effective for 180 days, beginning on December 29, 2018. The contractor listed for the project was China Construction Third Engineering Bureau Co., Ltd., a subsidiary of China Construction, a government-owned construction firm.
Interest in Gigafactory 3 appears to be high among China’s upstart workers. During a job fair that Tesla held for the facility at the Lingang Industrial Zone, the company ended up overwhelmed with applications that it was forced to extend its hiring hours. Some applicants interviewed by local media even revealed that they were from faraway cities, and they traveled hours just to get an opportunity to apply for one of the open positions for the upcoming facility.
Stay tuned for more updates as we follow this developing story.
Getting ready for the Tesla China Shanghai Gigafactory groundbreaking ceremony today!! $TSLA #Tesla #China #GF3 #TeslaChina pic.twitter.com/BnZFvspdfS
— vincent (@vincent13031925) January 7, 2019
Update on 1:55 p.m., Monday local time (8:55 p.m. Sunday PST). Elon Musk appears to have arrived at Gigafactory 3’s location.
Update: Shanghai Tesla owners club member reports: Elon Musk just arrived Shanghai GF3 ground breaking ceremony location. $TSLA #Tesla #China #GF3 #TeslaChina pic.twitter.com/Fc2HG1iFvM
— vincent (@vincent13031925) January 7, 2019
Elon Musk
Music City Loop could highlight The Boring Company’s real disruption
The real story behind the tunneling startup’s Nashville tunnel project is the company’s targeted $25 million per mile construction cost.
Recent commentary on social media has highlighted what could very well prove to be The Boring Company’s real disruption.
The analysis was shared by tech watcher Aakash Gupta on social media platform X, where he argued that the real story behind the tunneling startup’s Nashville tunnel project is the company’s targeted $25 million per mile construction cost.
According to Gupta’s breakdown, Nashville’s 2018 light rail proposal was priced at roughly $200 million per mile. New York’s East Side Access project reportedly cost about $3.5 billion per mile, while Los Angeles Metro expansion projects have approached $1 billion per mile.
By comparison, The Boring Company has stated it can construct 13 miles of twin tunnels in the Music City Loop for between $240 million and $300 million total. That implies a cost near $25 million per mile, or roughly a 95% reduction from industry averages cited in the post.
Several technical departures from conventional tunneling allow the Boring Company to lower its costs, from its smaller 12-foot diameter tunnels to its fully electric Prufrock machines that are designed to mine continuously with no personnel inside the tunnel and their capability to “porpoise” for easy launch and retrieval.
Tesla and Space CEO Elon Musk responded to the post on X, stating simply that “Tunnels are so underrated.”
The Boring Company has seen some momentum as of late, with the company recently signing a construction contract in Dubai and the Universal Orlando Loop progressing. Recent reports have also pointed to tunnels potentially being constructed to solve traffic congestion issues near the Giga Nevada area.
While The Boring Company’s tunnels have so far been used for Loop systems publicly for now, Elon Musk recently noted that the tunneling startup’s underground passages would not be limited only to ride-hailing vehicles.
In a reply to a post on X which discussed the specifications of the Music City Loop, Musk clarified that “any fully autonomous electric cars can use the tunnels.” This suggests that vehicles potentially running systems like FSD Supervised, even if they are not Teslas, could be used in systems like the Music City Loop in the future.
Elon Musk
SpaceX IPO could push Elon Musk’s net worth past $1 trillion: Polymarket
The estimates were shared by the official Polymarket Money account on social media platform X.
Recent projections have outlined how a potential $1.75 trillion SpaceX IPO could generate historic returns for early investors. The projections suggest the offering would not only become the largest IPO in history but could also result in unprecedented windfalls for some of the company’s key investors.
The estimates were shared by the official Polymarket Money account on social media platform X.
As noted in a Polymarket Money analysis, Elon Musk invested $100 million into SpaceX in 2002 and currently owns approximately 42% of the company. At a $1.75 trillion valuation following SpaceX’s potential $1.75 trillion IPO, that stake would be worth roughly $735 billion.
Such a figure would dramatically expand Musk’s net worth. When combined with his holdings in Tesla Inc. and other ventures, a public debut at that level could position him as the world’s first trillionaire, depending on market conditions at the time of listing.
The Bloomberg Billionaires Index currently lists Elon Musk with a net worth of $666 billion, though a notable portion of this is tied to his TSLA stock. Tesla currently holds a market cap of $1.51 trillion, and Elon Musk’s currently holds about 13% to 15% of the company’s outstanding common stock.
Founders Fund, co-founded by Peter Thiel, invested $20 million in SpaceX in 2008. Polymarket Money estimates the firm owns between 1.5% and 3% of the private space company. At a $1.75 trillion valuation, that range would translate to approximately $26.25 billion to $52.5 billion in value.
That return would represent one of the most significant venture capital outcomes in modern Silicon Valley history, with a growth of 131,150% to 262,400%.
Alphabet Inc., Google’s parent company, invested $900 million into SpaceX in 2015 and is estimated to hold between 6% and 7% of the private space firm. At the projected IPO valuation, that stake could be worth between $105 billion and $122.5 billion. That’s a growth of 11,566% to 14,455%.
Other major backers highlighted in the post include Fidelity Investments, Baillie Gifford, Valor Equity Partners, Bank of America, and Andreessen Horowitz, each potentially sitting on multibillion-dollar gains.
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Tesla expands global FSD (Supervised) testing with Abu Dhabi trials
The program marks the emirate’s first formal testing framework for Tesla’s supervised autonomous driving technology.
Tesla has started its first Full Self-Driving (Supervised) road trials in Abu Dhabi under the oversight of the Integrated Transport Centre, also known as Abu Dhabi Mobility.
The program marks the emirate’s first formal testing framework for Tesla’s supervised autonomous driving technology.
FSD (Supervised) road trials are being conducted with the support of the Smart and Autonomous Systems Council and in coordination with the Legislation Lab at the General Secretariat of the UAE Cabinet.
Dr. Abdulla Hamad AlGhfeli, Acting Director General of the Integrated Transport Centre (Abu Dhabi Mobility), highlighted the agency’s regulatory role in overseeing the FSD (Supervised) tests in a press release.
“The supervision of the Integrated Transport Centre (Abu Dhabi Mobility) over the commencement of Tesla’s advanced autonomous driving technology tests reflects its regulatory and legislative role. These tests represent a qualitative step to evaluate the technology’s performance in a real-world operating environment and to collect the necessary data to verify its readiness before any future expansion in usage.
“Through this organized framework, and in cooperation with strategic partners, we seek to achieve a balance between supporting innovation and encouraging the adoption of smart solutions on one hand and ensuring the safety of road users on the other, in line with the emirate’s direction to develop an advanced, safe, and sustainable transport system,” he said.
Tesla is putting a lot of effort into expanding the rollout of FSD (Supervised) to territories outside in the United States. During a recent interview with Giga Berlin plant manager Andre Thierig, Musk stated that Tesla is looking to secure approval for FSD (Supervised) in the Netherlands this coming March.
“Tesla has the most advanced real-world AI, and hopefully, it will be approved soon in Europe. We’re told by the authorities that March 20th, it’ll be approved in the Netherlands,’ what I was told. Hopefully, that date remains the same. But I think people in Europe are going to be pretty blown away by how good the Tesla car AI is in being able to drive,” Musk stated.