Electric vehicle manufacturer Tesla has revealed that the company has completed the transition of its Gigafactory Shanghai as a primary vehicle export hub.

The Gigafactory Shanghai is Tesla's first manufacturing facility in China and the company's third global gigafactory, which currently produces the Model 3 and Model Y. It is also the first electric vehicle factory in China to be wholly owned by a foreign automaker. Media reports say the plant played a significant role in Tesla's record deliveries this year.

Tesla said the company had completed the transition of its Shanghai gigafactory as a major vehicle export center, thanks to strong U.S. market demand and global cost optimization.

Tesla has reportedly begun taking reservations for Model Y in Europe. The first batch of Model Ys delivered to Europe will be produced at Tesla's Gigafactory Shanghai and shipped from Shanghai to Europe.

Previously, citing sources from Tesla, German media reported that the first domestic Model Y exported to the European market will be delivered to German consumers in August this year.