According to media reports, the annual production of the Model Y and Model 3 at Tesla's Shanghai gigafactory has reached 450,000 vehicles.

The Shanghai gigafactory is Tesla's first manufacturing plant in China, the first electric car factory in China wholly owned by a foreign automaker, and the third gigafactory the company has built worldwide.

Tesla experienced faster growth in production and sales in China starting in January this year, as mass production of the domestically produced Model Y began.

In late July, Tesla stated that it had completed the transition of its Shanghai gigafactory as a major vehicle export hub, thanks to strong local U.S. market demand and global average cost optimization.

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

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