Tesla expects Gigafactory 3 in China to cost $5 billion, report says

Tesla confirmed plans to build a Gigafactory in China last month after reaching a preliminary deal with the local Shanghai government, but it didn’t disclose how much it is expected to cost or how they will pay for it.

A new report now claims that Tesla expects Gigafactory 3 in China to cost $5 billion.

The report is coming from Bloomberg based on an anonymous source who also says that Tesla is looking for a local partner to invest:

“The electric-car pioneer is considering raising some of the $5 billion it intends to invest in the plant near Shanghai from local partners, according to a person familiar with the plans, who asked not to be identified as the matter is private.”

This is particularly interesting considering Tesla waited to be able to establish a local manufacturing capacity in China until they were allowed to do so without a joint-venture partner.