City remains magnet for foreign investment

Chen Kele, deputy director of the intelligent manufacturing promotion division at the Shanghai Municipal Commission of Economy and Informatization, said systematic innovation in Lingang has created a win-win situation. Not only has Tesla's production capacity increased, Shanghai's industrial growth has been boosted and the city's new energy vehicle, or NEV, ecosystem has been optimized, he said.

Over 1.1 million NEVs were in use in Shanghai as of last month, more than in any other city worldwide, data from the commission show. The goal of producing 1.2 million NEVs by the end of 2025, raised by the municipal government in a plan released in early 2021, now appears to be easily attainable.