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Lin-gang Special Area makes foreign enterprises feel at home

en.lingang.gov.cn| Updated: 31, 2024 L M S

The Lin-gang Special Area service center. [Photo/lingang.gov.cn]

The Lin-gang Special Area continues to lead in innovation and openness, significantly improving its services and business environment.

Tesla's vehicles, produced at the Lin-gang gigafactory, were recently included in local government procurement lists for the first time.

Tesla's Global Vice President, Tao Lin, highlighted the significance of this milestone on social media, stating that the inclusive and fair market environment in China boosts the company's confidence.

On July 25, Tesla announced the delivery of Model Y vehicles to several State-owned enterprises in Lin-gang. This development follows the third plenary session of the 20th Central Committee of the Communist Party of China's call for expanding openness and ensuring fair treatment for foreign enterprises.

Tesla's Shanghai gigafactory, launched five years ago as China's first wholly foreign-owned car manufacturing project, has driven significant growth in the local new energy vehicle industry. The factory's localization rate of over 95 percent has made the industry Lin-gang's largest economic sector, with a tenfold increase in output to over 300 billion yuan ($41.5 billion) in 2023.

In May, Tesla began building a new energy storage plant in Lin-gang. This is the first time the US electric carmaker has developed such a facility outside of its home country. The factory is set to begin production in early 2025.

Tesla's decision to expand further in Lin-gang is a testament to the positive experience at the Shanghai gigafactory over the past five years, driven by the area's continually improving service capabilities and business environment. With the new energy storage facility, Tesla's products are poised for rapid global distribution, leveraging the nearby Yangshan Deep Water Port and Nangang Port.

Lin-gang's appeal continues to grow, offering a market-oriented and international business environment. The area's ongoing reforms and openness make it an attractive destination for both domestic and foreign enterprises.

Over the past five years, the Lin-gang Special Area has seen an average annual growth of 45.3 percent in actual foreign direct investment and 37.5 percent in imports and exports. The area has also welcomed over 100,000 new enterprises.

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