Tesla is set to launch production of the Model Y at its Shanghai Gigafactory in China as early as November 2020, according to local reports. 

The electric vehicle (EV) manufacturer is reportedly ahead of schedule setting up facilities to produce a second model at the plant, with the final parts of the assembly line expected to be installed over the next two months.

The Shanghai Gigafactory started trial production last October and now produces an average of around 3,000 Model 3s per week. Ultimately, the plant will have a production capacity of 500,000 units per year.

Tesla sold about 50,000 cars in China in the first half of 2020, mostly Model 3s, generating revenue of US$2.3bn or just over 19% of the company's US$12.02bn global sales.

Last month the company made available two variants of the locally made Model Y for preorder with estimated retail prices of CNY488,000 ($70,930) and CNY535,000 ($77,760).